MoS Dr Sukanta Majumdar Calls for Faster Banking Expansion and Improved Credit Access in Northeast at Bankers’ Conclave 3.0

Union Minister of State for Development of North Eastern Region (MDoNER) Dr Sukanta Majumdar addressed the North East Bankers' Conclave 3.0 at Mizoram University in Aizawl, calling for faster expansion of banking services, improved credit access, and enhanced coordination between banks and State Governments to boost regional economic growth. He highlighted that 6,905 out of 9,479 identified villages in the Northeast are now connected to a bank branch or India Post Payments Bank, while addressing concerns over low Credit-Deposit ratios in certain states. To improve credit flow for MSMEs, farmers, women entrepreneurs, and tourism enterprises, he urged banks to set specific lending targets, utilize Business Correspondents, and ensure Aadhaar seeding of eligible accounts. The conclave also reviewed progress under the six-point banking roadmap adopted in December 2024.