Namsai, Oct 1: Union Finance Minister Nirmala Sitharaman on Tuesday inaugurated the Regional Business Office of the SBI in Namsai, which aims to boost financial services in this Aspirational district.
She also planted a sapling at the RBO campus as part of the 'Ek Ped Maa Ke Naam' campaign, initiated by Prime Minister Narendra Modi, underscoring a commitment to sustainability and community welfare.
Sitharaman, along with Deputy Chief Minister Chowna Mein, graced the Credit Outreach Programme at the Multipurpose Hall, Namsai. During this programme, 195 beneficiaries received sanction letters amounting to Rs 6.8 crore under various financial schemes. NABARD also sanctioned Rs 92.5 lakh for initiatives such as GI registration, rural marts, and micro-ATMs, while SIDBI provided Rs 1.5 lakh for women's livelihood programmes.
The Union Finance Minister also interacted with women SHGs and flagged off a school bus and presented 100 bicycles to girl students under the CSR initiative of SBI.
Sitharaman acknowledged progress made in Namsai as part of the Aspirational District programme, including granting of 20 GI tags in the state, and urged entrepreneurs to take GI tagged products of Arunachal Pradesh to national and international markets.
The Finance Minister highlighted the potential of digital technology interventions, led by Govt of India’s projects of Bharat net, 5-G technology, ONDC etc in transforming micro and small industry and providing it access to national and international market. Sitharaman urged banks to become development partners in the region through unique potential of crafts like boat-making as part of PM Vishwakarma scheme.
During the programme, beneficiaries and SHG members expressed enthusiasm about the new opportunities presented through these outreach programmes. These events are pivotal in enhancing financial inclusion and fostering sustainable development in Arunachal Pradesh.
Deputy CM Mein, in his address, lauded SBI Chairman CS Setty and concerned officials for the initiative, describing it as a transformative milestone towards bolstering the region's financial infrastructure, while expanding access to financial services all across the State.
"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."
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," he added.
Among the grants offered by NABARD included 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 programme and other projects.
Some other schemes under which sanction letters were distributed include AtmaNirbhar 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 Women and Child Development Minister Dasanglu Pul, MP Tapir Gao, MLA Chau Zignu Namchoom, Chairperson of SBI Challa Sreenivasulu Setty, and Chairman NABAR Shaji KV, among other distinguished guests.