Union minister Jyotiraditya M Scindia has urged banks to expand services in the Northeast’s remote areas, support farmers and local businesses, and work more closely with communities to strengthen development in the region.
Addressing the Northeast Bankers’ Conclave 3.0 at the Mizoram University auditorium, Scindia said the Northeast had significant potential to contribute to India’s growth. He called for greater banking support for farmers, entrepreneurs and local businesses, including help with marketing produce, expanding operations and accessing wider markets overseas.
Scindia said several farmers had already benefited from bank assistance, but added that more needed to be done to improve their livelihoods. His appeal places financial access alongside transport connectivity as a development issue for remote parts of the region, where access to markets and formal credit can influence the ability of local enterprises to grow.
The Union minister also highlighted Mizoram’s near-100% literacy rate, forests, natural beauty and climate as factors supporting tourism potential. He described the extension of railway services to Sairang as an important milestone for the state’s development. The Bairabi-Sairang railway line, he said, would improve connectivity with the rest of the country, ease travel and support tourism.
Scindia also cited the adoption of digital payments in the region. Digital transactions accounted for 90.2% of transactions in the Northeast, compared with 81% nationally, according to the figures he shared at the conclave. The comparison was presented as evidence of the region’s growing use of digital technology.
Mizoram chief minister Lalduhoma called on companies to direct more corporate social responsibility funds towards the state, particularly to improve connectivity in remote areas. He said CSR spending had increased across the country but was not distributed evenly. Lalduhoma urged companies not to restrict CSR support to large, established projects and asked them to consider Mizoram’s strategic position as a link between India and neighbouring countries.
The chief minister said the conclave was intended to strengthen cooperation between the government and banks and ensure that people benefited from the partnership. He said banks had an important role in community development and in improving livelihoods across the state.
Lalduhoma said Mizoram’s credit-deposit ratio stood at 55.83% in 2025-26. He added that seven banks operating in the state had cash-deposit ratios below 40% as of June 2026. The state government has set banks a target of raising the credit-deposit ratio to at least 67% from 2028-29 onwards, compared with the Centre’s target of 70%.
The chief minister also referred to the state government’s Bana Kaih, or handholding scheme, which has been linked with five banks to support farmers. He urged the participating banks to sustain their efforts and called for more loans for young people, along with coordinated action with the government to support balanced development, especially in remote areas.
