Northeast Bankers Conclave: Banking sector in Tripura sees growth in priority sectors, CM

Tripura Chief Minister Prof. Dr Manik Saha on Saturday  said that over 99% of villages in the state have banking access within a five-kilometer radius, and a total of 10 lakh 83 thousand bank accounts have already been opened under the PM-Jan Dhan Yojana. 

Dr Saha said this while addressing the North East Bankers Conclave in the presence of Union Home Minister Amit Shah, Union Minister of DoNER Jyotiraditya Scindia, Union MoS Dr Sukanta Majumder, and Arunachal Pradesh Chief Minister Pema Khandu. 

“It is a privilege to address this platform that underscores the pivotal role of financial institutions in catalyzing economic transformation. Over 99% of our villages in Tripura have banking access within a five-kilometer radius. A total of 10 lakh 83 thousand bank accounts have already been opened under the PM-Jan Dhan Yojana, with deposits of Rs 617 crore. The average deposit in PM-Jan Dhan accounts is Rs 5,702 per account, against the national average of Rs 4,357. The state government is trying to achieve 100% financial inclusion through flagship schemes like PM Suraksha Bima Yojana, PM Jeevan Jyoti Bima Yojana, Atal Yojana, Mudra Yojana, and Sukanya Samriddhi Yojana,” he said. 

Dr Saha added that, as per the National Strategy for Financial Inclusion guidelines, every village in the state has been provided with a banking touchpoint or outlet. 

“Every district and block has ATM facilities. The State Level Banking Committee of Tripura has received the Award of Excellence since the financial year 2021-22 under the Atal Pension Yojana scheme. In our state, several financial literacy centers are running with the objective of scaling up to cover all 58 blocks. A total of 2,800 business correspondents are playing an important role in increasing financial inclusion in the state by facilitating banking services at very low costs. Banks have made commendable efforts in priority sectors by lending to agriculture loans and MSME credits, which have seen notable growth,” said Dr Saha. 

He also mentioned that all banks and micro-financial institutions are participating in providing Mudra loans to unemployed youths in the state. 

“Credit-Deposit Ratio is the most important criterion for the economic development of the state. The state government has set a target under Lakshya 2047 to increase the CD ratio to 80%,” he added. 

Earlier in the day, Dr Saha attended the 72nd Plenary Session of the North Eastern Council and the North East Space Application Centre Society meeting chaired by Union Home Minister Amit Shah, Union Minister of DoNER Jyotiraditya Scindia, and Union MoS Dr Sukanta Majumder. In the meeting, Chief Ministers and Governors of all the northeastern states were present.