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Implementation of State Focus Paper will bring about development in Manipur: Guv

The National Bank for Agriculture and Rural Development (NABARD) has been preparing potential credit plans for all 16 districts of the state every year. 

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Imphal: Manipur Governor La. Ganesan has said that the implementation of a credit plan and developmental programmes based on the State Focus Paper 2023–24 potential estimates will encourage national financial inclusion programmes and bring about development in the state. He was speaking at the Manipur State Credit Seminar 2023–24, held here on Thursday.

In launching the State Focus Paper 2023–24, the governor said, it is a matter of great satisfaction to note that the paper projects the annual state credit potential of Rs. 2,599.03 crore under priority sectors. The National Bank for Agriculture and Rural Development (NABARD) has been preparing potential credit plans for all 16 districts of the state every year. 

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The Governor continued that NABARD has been providing credit and other facilities for the promotion of agriculture, micro, small, and medium enterprises, cottage and village industries, handloom and handicrafts, and other allied activities in rural areas since its inception on December 30, 1981, with the goal of promoting integrated rural development and security prosperity.

Citing the importance of green and renewable energy, La. Ganesan said the Center has a long term goal of reaching net zero carbon emissions by 2070. Furthermore, the empowerment of women and previously unbankable groups of people through banking linkages, such as self-help groups, not only accelerates growth momentum but also leads to equitable and sustainable development. Priority sector lending and financial inclusion are the important priorities of the government, with the objective of extending financial services to people to unlock their growth potential, as with the motto from Jandhan to Jansuraksha. 

The Governor appealed to the banks and other financial institutions that are allotted targets for the opening of branches at the identified locations to make the necessary efforts for the early opening of branches at all these locations.

Additional Chief Secretary P. Vaiphei also spoke on the various potentials of agriculture and horticultural development in the state. He said the Center is introducing new initiatives for the reintroduction of natural farming processes and organic farming. 

Tongkhopao Lhungdim, DGM, RBI, Imphal, and Hepuni Bismarck, Convenor, SLBC, Imphal, also spoke in the seminar. Bankers who are taking the lead in enrolling and implementing various financial inclusion programmes were also felicitated at the seminar.

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