The Impressive TimesAizawl, October 13, 2026: Union Minister for Development of North Eastern Region and Communications Jyotiraditya M. Scindia inaugurated the North East Bankers’ Conclave 3.0 at Mizoram University in Aizawl on Tuesday, calling for greater credit flow, stronger banking infrastructure and improved access to finance to accelerate economic development across the region.
The conclave focused on expanding financial inclusion, strengthening credit delivery and encouraging banks to support entrepreneurs, farmers, women, micro, small and medium enterprises (MSMEs), and infrastructure projects.
Mizoram Chief Minister Lalduhoma, State Minister Prof. Lalnilawma, MDoNER Secretary Srinivas Katikithala, Chief Secretary Khilli Ram Meena and North Eastern Council Secretary Satinder Kumar Bhalla attended the event. Representatives from major public and private financial institutions, regulatory bodies and development agencies also participated.
Addressing the gathering, Scindia identified three priorities for banks: expanding physical banking infrastructure, improving credit availability through state-specific Credit-Deposit (CD) ratio targets, and supporting MSMEs and infrastructure development.
Describing the Northeast as a promising market for the banking sector, the Minister said the region’s economy was growing at an annual rate of 9–11%.
He highlighted the need to ensure that financial inclusion translates into economic opportunities within the region.
Scindia noted that banks in the Northeast extend only ₹47 in credit for every ₹100 deposited, and urged financial institutions to increase lending to productive sectors.
He also called for a Northeast-specific credit-risk framework, noting that community-based landownership patterns in the region can create challenges for conventional collateral-based lending.
Reviewing progress since the first North East Bankers’ Conclave, Scindia said approximately 73% progress had been achieved over five years against the banking targets set at the inaugural meeting.
Key achievements highlighted at the conclave include:
Of approximately 9,000 villages identified for improved banking and postal coverage, 6,905 have been covered, according to the figures presented at the conclave.
The minimum population requirement for opening a physical bank branch has also been reduced from 3,000 to 2,000.
Highlighting the adoption of digital financial services, Scindia said Unified Payments Interface (UPI) transactions account for 90.2% of non-branch transactions across the Northeast.
Scindia said approximately ₹40,000 crore in investments had been grounded across the eight northeastern states following the Rising North East Investors Summit held in May 2025.
He also highlighted improvements in regional connectivity, including an increase in the number of airports serving the Northeast from nine to 17.
Referring to railway connectivity in Mizoram, the Minister cited the Bairabi railway line, which has carried approximately 15 lakh passengers through 1,100 trips.
He further noted that the Northeast receives more than ₹1 lakh crore annually through the allocation of 10% of Gross Budgetary Support, monitored by the Ministry of Development of North Eastern Region. He also highlighted approximately ₹6 lakh crore in fiscal devolution to the eight states.
Emphasising the region’s long-term development prospects, Scindia noted that the Northeast has a population of approximately five crore, with a substantial young population that could support economic growth through education, skill development, entrepreneurship and employment.
He cited an average literacy rate of 93% across the eight northeastern states and said Mizoram had achieved 100% literacy.
“The Northeast has a demographic and educational bulge, an array of natural resources and extraordinary natural beauty,” Scindia said, highlighting the region’s natural assets and development potential.
He also referred to his engagement with the region over the past 32 months, describing visits to its natural landmarks, entrepreneurs and local governance institutions as opportunities to understand its economic and social capabilities.
Scindia outlined four priorities for the Department of Financial Services (DFS): preparing a plan for 70 bank branches, Business Correspondent outlets and IPPB points; strengthening commercial banking presence; developing a Northeast-specific credit-risk framework; and preparing a comprehensive action plan for the region’s financial system.
NEDFi, DFS, MDoNER and state governments have worked together to identify financial gaps and develop state-specific interventions.
Between April and June 2026, the MDoNER Secretary held individual consultations with states, following which the states established their respective targets.
The conclave brought together banks, government departments and development institutions to discuss ways to improve lending and financial access across the region.
Scindia urged financial institutions to ensure that expanding banking access translates into greater economic participation, stronger local enterprises and increased opportunities for people across the Northeast.
No Comments: