30 new bank branches in Manipur soon: Union MoS
Source: Chronicle News Service
Imphal, October 30 2021:
Union minister of state for finance Dr Dr Bhagwat Kishanrao Karad has announced that Manipur will get 30 new bank branches within March next year to improve banking service in the state.
Speaking to media persons at BJP Manipur Pradesh office located at Nityaipat Chuthek here on Friday evening, Dr Bhagawat revealed that the new branches will include 23 nationalised banks and seven private banks.
Stating that the objective of his visit is to learn about Manipur's financial situation and to take up initiatives for improving it, he informed that that the state's bank ratio per lakh population is only 12, whereas the national average is 18.In addition to the bank branches, 40 new ATM centres and 16 NABARD banks in all 16 districts will be opened to improve borrowing facilities and services for the state's farmers, the minister assured.
Pointing out that the NABARD banks will help farmers avail the Kisan Credit Card, the union minister observed that only few farmers in the state use such facilities due to a lack of financial literacy.
The minister also pushed for improving the state's financial literacy.
To improve the same, banks would organise door-to-door campaigns to help individuals open banks accounts across the state, he continued.
Karad further said the state's banking services had improved under the leadership of chief minister N Biren Singh.
The opening of bank accounts under Pradhan Mantri Jan Dhan Yojana is far better in Manipur than the national average, he compared.
The minister said that he will re-visit the state after six months to check whether the initiatives are taken up properly or not.
The frequent visit of union ministers to North East states is at of the instruction of PM Narendra Modi to fulfil his aspiration of developing North East, he added.