Minister of Development for the North Eastern Region, G Kishan Reddy lighting a lamp to inaugurate the North East Banking conclave at New Delhi on April 28.
DIMAPUR, APRIL 30 (MExN): The Northeast Banking Conclave was organised by Ministry of Development for the North Eastern Region, North Eastern Development Finance Corporation (NEDFi) and State Bank of India with Confederation of Indian Industry the Industry Partner on April 28 at New Delhi.
Minister of Development for the North Eastern Region, G Kishan Reddy who inaugurated the conclave in his speech said that the North Eastern Region has unique challenges which require innovative practical solutions. He said that, MSMEs are the backbone of the economy of region and rooted in the greater vision of Atmanirbhar Bharat.
Stating that banks should prioritise support and promote MSMEs and start ups in the North East, Reddy added that the connectivity and transport infrastructure have improved in the region with all state capitals to be connected by Railway by 2024. There has been an increase of 113% in air traffic through 17 airports in the region including 3 international airports, he said.
Dr Bhagwat Karad, Minister of State, Ministry of Finance, Government of India in his address mentioned that the Prime Minister has decided to improve the per capita income of the people of the North Eastern Region. Government schemes on financial inclusion are doing well; there is an increase in credit growth by 85%, substantial improvement in CD ratio, which are good signs for the region. He mentioned that the banking Infrastructure needs to strengthen further including opening digital banks in the North East.
While addressing the delegates, B L Verma, Minister of State, Ministry of Development for the North Eastern Region spoke about the various initiatives being taken by DoNER Ministry to improve per capita income in the North East. He added that banks and financial institutions play a critical role in implementing the financial inclusions.
Lok Ranjan, Secretary, Ministry of Development of the North Eastern Region said that there is a need for more directed resources for accelerated development of NER. It is necessary to tap into more financial resources for the NER. There is conscious effort to work with various stakeholders so that various resources are channelized towards the development of the NER.
While proposing vote of thanks, PVSLN Murty, Chairman and Managing Director of NEDFi said that this conclave was the brain child of DoNER Minister Kishan Reddy under whose dynamic leadership the MDoNER has accelerated the pace of development in North East. Murty also thanked Minister of state for DoNER B.L. Varma and Minister of State for Finance Bhagwat Karad for sparing their valuable time. He also thanked all the secretaries, joint secretaries, chief secretaries, senior bankers and businessman for gracing the conclave with their presence. He also thanked SBI and CII, organizing partners of the conclave.
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