‘Duty towards nation’: Amit Shah urges banks to frame special rules for NE | India News

AGARTALA: Stating that the northeast has the highest potential for economic growth and is also on its way to becoming India’s export gateway through the Chittagong port, home minister Amit Shah Saturday impressed upon the need for banking policy stakeholders to devise special guidelines keeping in mind the region’s current capacity and as a “responsibility towards the nation”.
Addressing the NE 2024 bankers’ conclave here, Shah said there cannot be the same set of parameters for RBI and NABARD guidelines governing bank finance for the northeast, the potential of which was explored very late, and the rest of the country. He urged the banking secretary, NABARD chairman, RBI and SBI to take up the responsibility of adopting a positive outlook and framing norms that are exclusive to the northeast.
Urging the sector to adopt an accommodating approach towards financing infrastructure, agriculture, MSMEs and personal loans etc in the northeast, Shah said they should take the risk of investing in the region, given that the northeast is headed for an average 20% growth.
Shah said there was peace and stability in NE states due to the Modi govt’s efforts over the last 10 years.”Northeast is set to become the hub of economic development, an export gateway to the world through the link with Chittagong port, and will also break infrastructure development records,” Shah said adding that there was need for every bank and venture capitalist to see the northeast not just in terms of pure numbers, but with sensitivity, and become a stakeholder in its growth and development.
The conclave was attended by minister for DoNER Jyotiraditya Scindia, Arunachal Pradesh CM Pema Khandu, Tripura CM Manik Saha and senior officers of the department of financial services, RBI, department of posts, and representatives of key all prominent banks.