Union home minister Amit Shah on Saturday told banking representatives attending the North East Bankers Conclave in Agartala that they should come up with separate banking parameters/guidelines for the region to prosper.
Shah asked banking representatives whether the parameters for extending financial assistance for the development of infrastructure, agriculture, MSMEs or extending personal loans should be the same for the country and the Northeast.
“Should it be the same?... Northeast and country’s guidelines cannot be the same. The need is for separate financial guidelines for the Northeast. It is the responsibility of the banking secretary, the RBI, Nabard and the SBI to come up with a special financial guideline/parameters for the Northeast considering its ability. It has immense potential. It will become our export gateway,” Shah said.
The Northeast shares borders with Bangladesh, Myanmar, Bhutan, China and Sikkim.
Over 50 public and private banks have participated in the conclave.
Shah was in Agartala to attend the 72nd North Eastern Council plenary where he said the NEC, the nodal agency for the economic and social development of the region, was working to identify the needs and challenges of various regions in the Northeast and provide effective solutions.