New Delhi : The Ministry of Development of North Eastern Region (MDoNER) in collaboration with the North Eastern Development Finance Corporation Limited (NEDFi) on Friday organized “The North East Bankers’ Conclave 2023” at the Constitution Club of India, New Delhi supported by the State Bank of India and Confederation of Indian Industry (CII) as Industry Partner.

Inaugurating the conclave,  G Kishan Reddy, Union Minister of Development for the North Eastern Region (DoNER), said that the North Eastern Region (NER) has unique challenges which require innovative practical solutions. He further stated that, MSMEs are the backbone of the NE economy and are rooted in the greater vision of Atmanirbhar Bharat. Banks should prioritize support and promote Agri-Horti Sector, MSMEs, and Start-Ups in the North East.

The conclave was also graced by Dr. Bhagwat Kishanrao Karad, Minister of State (Finance), and  B. L. Verma, Minister of State (DoNER)besides senior bureaucrats from the Government of India, NE States, various leaders from the banking and financial sector, regulators, industry experts, policy-making organizations and other stake holders.

There is a need and opportunity for the banking sector to promote industrialization, financial inclusion, and promoting entrepreneurship across the emerging sectors by increasing credit flow, said G Kishan Reddy further G Kishan Reddy also stressed the need to support the entrepreneurs in developing market linkages and value-added support to the entrepreneurs to ensure the success of the MSMEs and startups in the region.

He also added that close coordination with State governments is being ensured to maximize the potential of the banking fraternity in the region.The Conclave served as an opportune platform to bring together some of the distinguished stakeholders as panelists and participants from various commercial banks, development banks, startups, policymakers, think-tank organizations, micro-lending organizations, regulatory authorities, and entrepreneursto discuss, debate, and develop ideas on how the Banking Sector in the NER can catalyze accelerating development in the NER.

The four specifically themed panel discussions on credit flow to Agri & Allied Sector, MSMEs & Startups, Implementation of Central Schemes by Banks, and Issues in Banking in the North East minutely assessed the performance, prospects, and challenges faced by the banking and financial services industry in the North Eastern Region.