Union Finance Minister Nirmala Sitharaman Launches Credit Outreach Programmes in Arunachal Pradesh

Itanagar/Namsai: Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, participated in two significant Credit Outreach Programmes in Itanagar and Namsai, Arunachal Pradesh, today. These events aimed to bolster financial inclusion, support local entrepreneurs, and promote sustainable development in the state.

The programme in Itanagar saw the participation of key dignitaries, including Arunachal Pradesh Chief Minister Pema Khandu, Deputy Chief Minister Chowna Mein, and M. Nagaraju, Secretary of the Department of Financial Services (DFS). Senior officials from both the Central and State Governments, along with representatives from major financial institutions such as SBI, PNB, NABARD, and SIDBI, were also in attendance.

During the event, sanction letters worth ₹14.4 crore were distributed to 160 beneficiaries under various schemes supporting retailers, MSMEs, and agricultural activities. Notably, NABARD provided ₹1.5 crore to Rajiv Gandhi University for the establishment of a Rural Business Incubation Centre, along with over ₹18 crore for other initiatives. SIDBI contributed ₹40 lakh to support micro-enterprises.

As part of SBI’s Corporate Social Responsibility (CSR) initiatives, the bank donated an ambulance, a hearse van, and 50 bicycles for girl students in the region. The Union Finance Minister also flagged off two financial literacy demonstration vans from NABARD and a mobile medical unit from SIDBI.

In her address, Sitharaman praised the banks’ efforts toward building a Viksit Bharat (Developed India) and urged them to focus on the financial upliftment of Arunachal Pradesh. She emphasized the need for greater access to banking facilities, including the deployment of banking correspondents and the opening of additional bank branches to enhance financial inclusion across the state. “This increased access will support new business ventures and help the people of Arunachal Pradesh prosper and thrive,” she stated.

At the Credit Outreach Programme in Namsai, Sitharaman, as the Chief Guest, inaugurated the Regional Business Office (RBO) of SBI, which aims to boost financial services in the Aspirational District. Deputy Chief Minister Chowna Mein served as the Guest of Honour. The Finance Minister also participated in the ‘Ek Ped Maa Ke Naam’ campaign, planting a sapling at the RBO campus to reinforce the government’s commitment to sustainability.

During the Namsai event, 195 beneficiaries received sanction letters worth ₹6.8 crore under various financial schemes. NABARD sanctioned ₹92.5 lakh for initiatives like GI registration, rural marts, and micro-ATMs, while SIDBI contributed ₹1.5 lakh for women’s livelihood programmes. SBI’s CSR initiative also saw the donation of a school bus and 100 bicycles to girl students.

Sitharaman highlighted the potential of digital technology, such as Bharat Net, 5G technology, and ONDC, in transforming micro and small industries, particularly in promoting GI-tagged products from Arunachal Pradesh on both national and international platforms. She encouraged banks to act as development partners in the region, particularly in leveraging the unique potential of local crafts such as boat-making under the PM Vishwakarma Scheme.

The Union Finance Minister also interacted with Self-Help Groups (SHGs) and entrepreneurs, expressing her appreciation for their enthusiasm towards the new opportunities presented through these outreach programmes. The initiatives are poised to significantly enhance financial inclusion and foster sustainable development in Arunachal Pradesh.