(Photo: Information Dept officials)
Aizawl, October 13 (IANS) Union Minister for Development of North Eastern Region (DoNER) Jyotiraditya Scindia said on Tuesday that 131 new bank branches had been opened and 126 new ATMs installed across the Northeastern region between December 2024 and March 2026.
He added that 6,905 of the 9,479 villages identified for connectivity through banking and postal services had already been covered.
Addressing the 'North East Bankers' Conclave 3.0' in Aizawl, the DoNER Minister announced that to ensure more people benefit effectively from banking services, the existing guideline requiring a minimum population of 3,000 to establish a brick-and-mortar branch has been lowered to a population threshold of 2,000 specifically for the Northeastern states.
He also noted that 90.2 per cent of non-branch transactions in the Northeastern states are conducted through the Unified Payments Interface (UPI).
Along with these positive developments, Scindia stressed the need to accelerate efforts to quickly connect the remaining 2,574 villages that lack bank or postal service links.
"Targets have been set to increase the Credit-Deposit (CD) Ratio of banks from 47 per cent to 60 per cent for Tripura, 60 per cent for Arunachal Pradesh, and 67 per cent for Mizoram," he said.
The Union Minister noted that raising the CD Ratio increases the circulation of money within the state, making it a vital tool for development, and remarked that the acronym CD Ratio could even stand for 'Credit for Development'.
Scindia highlighted that the Northeastern states possess a large working-age youth population, high literacy rates, and abundant natural resources.
He shared that this marks his 35th visit to the Northeastern states during his tenure of 2 years and 8 months as the DoNER Minister.
He emphasised the crucial importance of collaboration between banks and the government for the development of the region.
The DoNER Minister said that during the North East Bankers' Conclave 2.0 held in Agartala (Tripura), various targets were set, including opening new bank branches, installing more ATMs, and connecting unbanked rural villages to banking systems.
He added that the DoNER Secretary Katikithala Srinivas held individual consultations with representatives of each state to set specific targets.
Scindia lauded Mizoram as a state successfully implementing digital payments, as well as the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) schemes.
At the same time, he stressed the importance of boosting efforts for registration under the PM Jan Dhan Yojana and PM Vishwakarma, noting that banking operations must place greater emphasis on expanding credit and lending.
Scindia said that the deliberations at Tuesday's NE Bankers' Conclave 3.0 were divided into four session themes: Last Mile, Loans, Livelihoods, and Lifelines.
These encompass connecting unbanked villages to banks, Business Correspondents, or the India Post Payments Bank; intensifying loan disbursements to MSMEs and women entrepreneurs; undertaking initiatives to ensure sustainable livelihoods for farmers; and building better connectivity and infrastructure.
The Union Minister urged the gathering to formulate ten recommendations from each of the four sessions on Tuesday, along with forty (40) actionable paths to fulfill them.
He asked them to set timelines and clear metrics to execute these proposals, expressing his hope that the North East Bankers' Conclave 4.0 will showcase even greater progress.
Mizoram Chief Minister Lalduhoma in his address said that the most important function of a bank is not merely safeguarding the public's money, but creating opportunities for human upliftment and empowerment.
He described banks and financial institutions as crucial drivers of state development, catalysts for various businesses, pillars of support for entrepreneurs, avenues for wealth creation, and vital tools for establishing sustainable livelihoods.
He said that during the 2025-26 fiscal year, while Assam's Credit-Deposit Ratio stood at 73.52 per cent, Nagaland's at 61.1 per cent, and Tripura's at 61 per cent, Mizoram lagged behind at 55.83 per cent.
The Chief Minister added that this highlights the urgent need to step up efforts, with a target set to scale it up to 67 per cent by the 2028-29 fiscal year.
Lalduhoma stressed that banks must expand their footprint beyond Aizawl into other districts and rural areas to remain easily accessible to those in need.
Given that Mizoram boasts a high loan recovery rate, the Chief Minister urged banks to leverage this positive trait effectively.
