India
Modi’s vision: Women at the forefront of India’s economic growth, says FM Sitharaman | India News – Times of India
Speaking at a lending program in Darbhanga, where banks distributed loans worth Rs 1,388 crore to 49,137 beneficiaries, Sitharaman said, “Earlier, the Prime Minister always told me that the Union Budget should be women-centric. But now he says the budget should focus on women. should be one that visualizes women in leadership roles.”
During her two-day visit to Bihar, Sitharaman recognized the contributions of women to the famous products of the Mithila region, especially ‘makhana’ (fox nut) and Madhubani paintings. She discussed initiatives like ‘Drone Didi’ and highlighted financial support for women entrepreneurs through self-help groups along with skill development programmes.
Referring to Mithila as the birthplace of Sita, she said women’s contributions would help India lift its economy from the current fifth position to third globally in about eighteen months.
Earlier in the day, Sitharaman chaired a meeting in Patna to review the performance of eight regional rural banks (RRBs) in Bihar, Jharkhand, Odisha and West Bengal. She urged RRBs to increase their share in agricultural credit disbursement, especially for allied activities such as dairy, livestock and fisheries. In particular, she directed the Uttar Bihar Gramin Bank to improve the flow of credit to fisheries and makhana production to unlock their regional potential.
Sitharaman emphasized the need for technology upgrades in RRBs to increase efficiency and service delivery, and underlined the importance of digital services such as internet banking, mobile banking and UPI. She directed RRBs to implement these services by the end of December 2024 and promote their use among customers with the support of sponsor banks.
Sitharaman highlighted the ‘one district one product’ (ODOP) program and highlighted its potential for self-employment in the region. She urged governments to work with banks to increase the flow of credit to women self-help groups (SHGs) and work with NABARD and SIDBI to help these groups grow into businesses. Financial institutions were also mandated to support training and marketing links.
Bihar’s Deputy Prime Minister and Finance Minister Samrat Choudhary called for an increase in the number of bank branches in rural areas and an improvement in the credit-deposit ratio. He also urged banks to support small-scale industries and promote digital transactions in rural areas.
The meeting was attended by M Nagaraju, secretary, department of financial services, chairmen of RRBs and sponsor banks, as well as representatives of NABARD, SIDBI and participating states.
