Arunachal: Nirmala Sitharaman inaugurates Regional Office of SBI in Namsai
She also takes part in Credit Outreach Programme accompanied by Deputy CM Chowna Mein
NAMSAI – On Tuesday, Union Minister of Finance and Corporate Affairs Nirmala Sitharaman inaugurated the Regional Office of SBI in Namsai along with the virtual inauguration of multiple branches across Arunachal Pradesh. Saplings were also planted as part of the ‘Ek Ped Maa Ke Naam’ campaign during the occasion.
Following the inauguration, Sitharaman along with Mein and other dignitaries visited stalls set up by NABARD, SBI, SIDBI, and ArSRLM. She then flagged off a college bus for the Government Polytechnic College, Namsai and distributed bicycles for girls students which was donated as part of SBI’s Corporate Social Responsibility initiative.
A Credit Outreach Programme organized at the Multipurpose Hall, Namsai was also graced by Sitharaman, Mein and other dignitaries.
The Union Minister interacted with members of the Self Help Groups (SHGs). In her address, she emphasized that improvements in the social and economic status of women have a direct positive impact on their families. She highlighted initiatives like the ‘Lakhpati Didi’ and ‘Drone Didi’ schemes, which have empowered many women by providing skill training, essential kits, and access to bank loans.
She also congratulated the Government of Arunachal Pradesh for recently securing over 18 Geographical Indication (GI) tags and encouraged further efforts to market these products globally through e-market places. She also commended Namsai District for its remarkable progress, rising from 97th to 12th position in the Aspirational District Programme.
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Spearheaded by SBI in collaboration with NABARD, SIDBI and PNB as part of the State Level Bankers’ Committee (SLBC), the credit outreach programme was organized for the distribution of credit sanction letters pertaining to the various flagship programmes of the Govt.
As part of the sanction letters distributed, NABARD provided a grant assistance of Rs. 8.8 lakh for the registration of authorized users under the Geographical Indication (GI) tag, further amplifying the promotion of indigenous products of the land, which has recently received support for 18 GI products.
The Deputy Chief Minister Chowna Mein in his address lauded SBI Chairman CS Setty and concerned officials for the initiative, noting it as a transformative milestone towards bolstering the region’s financial infrastructure, while expanding access to financial services all across the State.
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“The establishment of the SBI Regional Office is a pivotal step forward in accelerating our financial development,” Mein stated. “It will serve as a catalyst for investment and growth in our region.”
He also expressed his gratitude to the Union Minister for her prompt action in establishing the SBI Regional Office for the eastern region of Arunachal Pradesh which she assured during the meeting with Chief Minister and Deputy Chief Minister at Delhi just a month’s back.
Mein further commended the active involvement of financial institutions, particularly highlighting the significant role of NABARD in infrastructure development and the promotion of indigenous products through GI registrations.
“NABARD’s support has been invaluable, not just in infrastructure projects, but also in preserving our cultural heritage,” Mein added.
Deputy Chief Minister also acknowledged the unique challenges faced by Arunachal Pradesh, addressing the need for improved Credit Deposit ratios, support for Micro, Small, and Medium Enterprises (MSMEs), pooled funds, and Corporate Social Responsibility (CSR) activities. “Empowering our people is essential for unlocking their full potential,” Mein asserted.
Among the grants offered by NABARD also include sanctions worth Rs. 32.37 lakh for a project titled ‘Empowering Youth and Women through a Pilot Demonstration of Agriculture 4.0 Technologies for Sustainable Farming and Farmer Welfare in Arunachal Pradesh’; Rs. 15.67 lakh for Integrated Floriculture and Beekeeping Project for the Aspirational Block, Chongkham, under the Aspirational District Namsai, and other projects.
Some other schemes under which sanction letters were distributed include Atma Nirbhar Yojana, under which GoAP has introduced 5 schemes focusing on investment in Agri-Horti sector; Stand-Up India for setting up greenfield enterprises like manufacturing, services, agri-allied activities; DDUSY for enabling unemployed youths to gain access to low-cost capital towards starting their respective ventures; PM Viswakarma under Ministry of MSME for supporting the artisans and weavers through collateral free credit skill training and market support; and so on
The event was attended by notable figures, including Minister of Women and Child Development, Dasanglu Pul, MLA Tapir Gao, MLA Chau Zignu Namchoom, Chairperson of SBI Challa Sreenivasulu Setty, Chairman NABARD Shaji KV and other distinguished guests.
