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Speaking at a bankers' conclave and credit outreach program in Kohima, Sitharaman stated that...
Digital Desk: Union Finance Minister Nirmala Sitharaman stated on Tuesday that the government strives to implement each government program so that all eligible residents are covered.
Speaking at a bankers' conclave and credit outreach program in Kohima, Sitharaman stated that institutions that deal with very basic financial needs must stay knowledgeable and up-to-date on the technologies that support mobile banking.
She stated that because of the state's nature, topography, and terrain, the government's aim in Nagaland is to include all eligible individuals in every government initiative, and access being a challenge, the only way to solve it is through mobile connectivity.
Sitharaman stressed the importance of 'Bank Mitras' in a state like Nagaland, where even a block headquarters is difficult for villagers to reach, and expressed her delight that the Bank Mitras are performing effectively in the state.
She also urged the banks to open a few more so that the villagers would have easier access.
The Finance Minister praised Nagaland for its success in programs like Atal Pension Yojana, MUDRA, and Standup India.
Sitharaman set a deadline for the outreach program to begin on September 1 and end on November 30 in order to reach all eligible recipients for the credit schemes.
Thanking Sitharaman for initiating and getting the credit outreach program organized and for setting into motion a bouquet of initiatives that will move Nagaland towards 100 percent financial inclusion, Chief Minister Neiphiu Rio said that through this credit outreach, the banks will be extending credit of Rs 223 crore under various schemes as well as retail loans to the people of Nagaland.
Chief Minister Neiphiu Rio thanked Sitharaman for starting and organizing the credit outreach program and for launching a slew of initiatives that will advance Nagaland toward complete financial inclusion. Rio stated that through this credit outreach, the banks will be providing the people of Nagaland with retail loans totaling Rs 223 crore under various schemes.
Rio stated that the North East Small Finance Bank seeks to finance Rs 150 crore to small enterprises and farmers and to open 10 branches in the state.
On Tuesday, Sitharaman also launched a mobile ATM van funded by NABARD under FIF.
Token cheques worth Rs 205 crore were given out by Sitharaman to each and every recipient of 11 significant programs during the event.
Additionally, two projects were started by the finance minister through NABARD's Tribal Development Fund. It was declared that the Nagaland State Cooperative Bank would completely saturate all eligible farmers under KCC in two project areas in the districts of Wokha and Phek.
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