Over 5000 loans extended in rural areas of Manipur
Source: Chronicle News Service / PIB Delhi
New Delhi, December 13 2022:
As per the data provided by Public Sector Banks, more than 12 lakh loans have been extended in rural areas across the country including loan to 5229 units in the state of Manipur, after the Covid period - from April, 2020 to November, 2022 .
This was stated by Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in Lok Sabha on Monday.
The minister also stated that setting up of industries is a state subject.
However, the minister further stated that banks provide credit to youths for setting up industries across the country including rural areas.
As per RBI circular dated 9th April, 2010, all credit related matters of banks, including charging rate of interest (ROI), have been deregulated and are governed by the bank's own fending policies, considering relevant factors such as cost of funds, margin, risk premium within the extant regulatory guidelines, the minister stated.
As per information provided by the minister, numbers of units getting financial assistance in rural areas of different northeast states are 2052 in Arunachal Pradesh, 27,354 in Assam, 3257 in Meghalaya, 673 in Mizoram, 2042 in Nagaland, 1985 in Sikkim, and 3330 in Tripura.