Shillong: G Kishan Reddy, Minister of Development for the North Eastern Region, has emphasised the need for banks’ support to MSMEs in the North East.
Addressing the Northeast Banking Conclave in the Capital on April 28, Reddy observed that MSMEs are the backbone of the region’s economy and need the required fillip from the banking sector.
“Banks should prioritise support and promote MSMEs and start-ups in the North East,” he said.
He added that the connectivity and transport infrastructure has improved in the region and all state capitals will be connected by railway by 2024. There has been an increase of 113% in air traffic through 17 airports in the region, including three international facilities.
Bhagwat Karad, Minister of State, Ministry of Finance, mentioned that the Prime Minister has decided to improve the per capita income of the people of the region.
“Government schemes on financial inclusion are doing well, there is an increase in credit growth by 85%, and substantial improvement in CD ratio, which are good signs for the region,” Karad said, adding that the banking infrastructure needs to strengthen further including opening digital banks in the North East.
ALSO READ: Round table talk on Business and Investment to be held in Tripura on May 2
FIRST Business Portal addressing the potential of business capability of North East Region.
