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Inclusive banking for Naga villages
Correspondent KOHIMA, JUL 28 (NPN):
Published on 29 Jul. 2010 12:39 AM IST
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Expansion of inclusive banking model in remote villages of the state was discussed and deliberated by bankers and state government officials, Wednesday at state level bankers committee meeting for Nagaland at Hotel Japfü.
State chief secretary Lalthara who was present at the meeting stated that inclusive banking would expand rapidly in the state with vast connectivity of communication.
He asked the rural development department, which connects with village authorities, to strategize banking correspondence facilities.
Lalthara maintained that people in rural areas were in need of enterprise, and therefore urged the bankers to circulate money to genuine people for production activities.
“There is still a lot to be done in Nagaland, we need to go into the villages” he added. The chief secretary also said that credit-deposit (C-D) ratio in the state, which is one of the lowest in India, be improved not only in the context of raising its percentage but by reaching out to all remote parts of the state.
Regional Director for North Eastern States, Reserve Bank of India, Surekha Marandi, said State Level Bankers Committee meeting for Nagaland was an important platform to decide concerted action plan to improve the state’s economy by giving special focus on inclusive banking growth.
With the declaration of year 2010-11 as the Year of Entrepreneurs in Nagaland, Surekha Marandi said that the bankers and government of Nagaland would jointly introduce facilities for entrepreneurship particularly for the unemployed.
She further stated that departments like Agriculture Department and Rural Development department help bankers by identifying eligible farmers to take Kishan Credit Cards (KCC) loans at the right time.
Chief General Manager, State Bank of India, R.K. Garg said financial inclusion in the state would create employment.
He assured that banks were committed to develop the economic growth of the state and also generate employment and entrepreneurship.
With the cooperation of the state government, he stated that financial inclusion would be expanded and reached out to villages
Senior government officials representing various key departments attended the meeting, while other bank officials were also present.

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