Finance minister Nirmala Sitharaman has asked banks to undertake district-wise credit outreach programme in Nagaland and a “saturation drive” of various credit-related schemes there from September 1 to November 30. The move will boost lending to the needy during the festival season.
On the second day of her visit to the North-eastern state, Sitharaman handed over loans worth Rs 205 crore to 3,422 beneficiaries under 11 schemes. She launched the CM’s Micro Finance Scheme in the state and attended the Banker’s Conclave, a part of a three-day Corporate Social Responsibility (CSR) and Investment conclave organised by the state government.
Sitharaman asked banks and district administrations to pick up banking correspondents, where necessary, to ensure the success of the credit outreach programme.
Earlier in June, state-run banks conducted a massive credit outreach programme in all districts of the country and enrolled customers for various official schemes, especially in insurance. This outreach programme was curated as part of a week-long celebration of the finance and corporate affairs ministry under the so-called Azadi Ka Amrit Mahotsav. It is also a part of the government’s efforts to ensure greater and easier credit flow, as the economy recovers from the damage caused by the pandemic.