North East Bankers’ Conference 2024
Banks Must Play a Responsible Role in the Development of the North East: Union Home Minister
Agartala 21 December, 2024: The North East region holds immense potential for development. Banks should not view it merely as a business opportunity but as a region where they can play a pivotal role in its holistic progress. This was emphasized by Union Home and Cooperation Minister Amit Shah during his keynote address at the North East Bankers’ Conference 2024, held today at Hotel Polo Towers in Agartala.
The Union Home Minister stated that the central government is committed to building a developed India by 2047. The comprehensive development of the North East will play a crucial role in achieving this vision. The region is poised to become a gateway for investments, driving India’s growth. The ultimate goal of a developed India is to ensure the financial prosperity of all citizens, including those in the North East. He highlighted that peace and order have been established in the region, integrating the states of the North East into the mainstream of national development.
During the conference, Amit Shah urged banks to adopt a tailored and proactive approach in providing loans for infrastructure, agriculture, MSMEs, and private enterprises in the North East. He pointed out the remarkable progress in the region’s infrastructure, air, and rail connectivity, which has unlocked avenues for development. With reputed industrial houses expressing interest in investing in the North East, the region is set to become a hub for business and trade. Shah also stressed the need to expand banking services, including branches and ATMs, and called upon banks to extend their services to villages that currently lack access to banking.
Chief Minister of Tripura, Prof. (Dr.) Manik Saha, stated that most villages in the state are already covered under banking services. Over one million Jan Dhan accounts have been opened under the Pradhan Mantri Jan Dhan Yojana. He emphasized that flagship schemes of the central government are being implemented effectively, supporting agriculture, MSMEs, and loan disbursements under the MUDRA scheme. He expressed optimism that banks would play a significant role in improving the Credit-Deposit (C-D) ratio to boost the economic development of the state and the nation.
Union Minister for DoNER, Jyotiraditya Scindia, highlighted that the North East would become the “growth engine” of India’s economy in the future. He noted the transformative progress in India’s economy under Prime Minister Narendra Modi’s leadership, which has elevated the nation to the fifth-largest economy in the world. The goal is to make India the third-largest economy by 2027.
Scindia also spoke about the substantial progress made in the North East’s infrastructure, including roads, bridges, highways, air connectivity, and rural road schemes. With its natural blessings and skilled workforce, the North East has immense potential to emerge as a gateway to Southeast Asia, he said.
The conference was attended by Arunachal Pradesh Chief Minister Pema Khandu, Union Minister of State for DoNER Dr. Sukanta Majumdar, Secretary of Financial Services M. Nagaraju, and Secretary of DoNER Chanchal Kumar, who delivered the welcome address. Other attendees included senior officials from the Ministry of Home Affairs, Ministry of Posts, and banking sector executives. The North East Bankers’ Conference was organized jointly by the Ministry of DoNER and the North Eastern Development Finance Corporation.
