MoS Finance Dr. Bhagwat Karad, attended the 74th SLBC Meeting cum COP in Gangtok

MoS Finance Dr. Bhagwat Karad, attended the 74th SLBC Meeting cum COP in Gangtok

Gangtok, March 7 (IPR): Minister of State for Finance, Government of India, Dr. Bhagwat Karad, attended the 74th State Level Bankers’ Committee Meeting cum Credit Outreach Programme, organised by State Level Banker Committee (SLBC) Sikkim, here at a local hotel in Gangtok, today.
The MoS, Finance was accompanied by Controller cum Secretary, Finance, Revenue & Expenditure Department, Government of Sikkim, Shri M.C.P. Pradhan, Chief General Manager cum Officer-in-Charge, Reserve Bank of India, Shri Kishore Pariyar, General Manager cum Convenor, SLBC Sikkim, State Bank of India, Shri Jogesh C. Sahu, and GM cum OiC, NABARD Gangtok, Shri S.K. Gupta. The programme was attended by Secretaries of line departments of the Government of Sikkim, along with GMs, MDs, and Bank officials from various banks of the State.
Addressing the gathering as chief guest, MoS Finance, GoI, Dr. Karad, said that the banks in Sikkim have done a good job in extending banking services through its branches to every corner of the State and expressed satisfaction over the positive credit-deposit ratio in Sikkim, which is impressive as compared to other States in the country and could be raised further. He stated that financial literacy and financial inclusion among the masses are the top focus areas of the Government of India under Prime Minister Narendra Modi and added that Sikkim’s performance in this regard is noteworthy.
Dr. Karad applauded the exceptional rapport and strong coordination between the State government and all the banks of Sikkim in providing banking services in rural areas, encompassing not just banking but a more holistic approach towards increasing financial literacy in the State. He directed the banks to improve their performance in areas falling behind the national average, such as the Jan Dhan Yojana, through extensive awareness and outreach programmes for the welfare of people at the grassroots.

MoS Finance Dr. Bhagwat Karad, attended the 74th SLBC Meeting cum COP in Gangtok

The MoS Finance also stressed the need for substantial awareness of various other schemes like the MUDRA, KCC, Stand-Up India, and others, with the major target focus being the aspirational districts, the newly formed districts, and border villages of Sikkim so that all welfare schemes reach their saturation in those areas. He added that three FL vans would also be mobilized for the State through NABARD to improve financial literacy and create more awareness among the masses about various loan schemes and strengthen the rural economy.

Highlighting the role of NABARD and RBI as regulators in guiding both public and private sectors, the MoS Finance urged the banks to work in coordination to ensure that loans are made available to all skilled persons in the State, who are important stakeholders in strengthening the financial sector and improving the economy of the country. He also appreciated the initiatives of the NABARD, RBI, and other banks in creating financial awareness through creative modes like nukkad nataks and radio jingles. He expected the State to continue progressing and achieve maximum bank communication in every part of Sikkim.
The first session of the 74th State-level Bankers’ Committee Meeting witnessed in-depth deliberations on various parameters such as financial inclusion in the State, implementation of flagship schemes, the status of credit, and penetration of banking and insurance coverage in the State of Sikkim, which had the active participation of the HoDs of line departments and various Bank representatives.
This was followed by the distribution of disbursement letters and cheques to beneficiaries under various schemes by various banks. A total of 20 cheques, amounting to Rs. 9 Crores 57 Lakhs and 7 Thousand/- were distributed to the beneficiaries on the occasion.
Thereafter, an interaction session with the SHG members and beneficiaries was held whereby MPCS representatives shared their success stories and expressed gratitude to the State government and the banks of the State for extending continued support in providing easy and simplified access to banking facilities for the welfare of rural people.
On the occasion, MoS Finance virtually inaugurated the Lead District Manager (LDM) Office of the Central Bank of India (CBI) at Pakyong.
Earlier, the welcome address was delivered by Convenor, SLBC Sikkim, Shri Jogesh C. Sahu., which was followed by an elaborated PowerPoint presentation given by Chairperson, Steering Committee, SLBC, Shri Kishore Pariyar.
The programme was also addressed by Controller cum Secretary, Finance, Revenue & Expenditure Department, Government of Sikkim, Shri M.C.P. Pradhan, wherein he extended gratitude to the MoS Finance for gracing the occasion and thanked him for his invaluable suggestions and deliberations.
LDM, SBI, Shri Anit Lamichhaney proposed the vote of thanks.

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