Guwahati, Dec 18: Importance of financial inclusion, especially in the North East, was underlined by various speakers at the 4th North Eastern Financial Inclusion Conclave in Guwahati on Thursday.
“Meghalaya is not just Shillong, Mizoram is not just Aizawl, and Manipur is not just Imphal,” said Sherry Lalthangzo, Economic Advisor of North Eastern Council (NEC) while urging micro-finance institutions (MFIs) to be the institutions at the grassroots that aim to reach the unreached.
The Conclave discussed measures as to how MFIs could be the driving institutions in reaching last-mile remote communities that the formal banking sector has not been able to accommodate.
The Conclave titled “Microfinance: Enabling Viksit North – East and Viksit Bharat” was organised by Sa-Dhan in collaboration with North-Eastern Development Finance Corporation Limited (NEDFi) at NEDFi House, Guwahati.
The Conclave brought together representatives from notable organisations, development professionals, financial institutions and dignitaries in the financial sector of the North – East Region.
NEDFi chairman PVSLN Murty urged banking institutions to develop schemes that could benefit the Microfinance sector in the long-run.
“Recovery should be smooth with lesser amounts and better reminders,” he said naming states like Mizoram, which tops recovery loan rates in the region.
Assam Finance Corporation (AFC) chairman Rupam Goswami spoke about how working together is key to taking innovative steps, and seminars and conclaves are equal drivers in supporting efforts to develop solutions for growth.
NABFINs managing director Smti Neerja stated why passion is relevant to advancing financial inclusion.
The discussions highlighted the importance of collaborative approaches involving government bodies, financial institutions, and community-based organisations to ensure effective last-mile delivery and sustainable impact.
The conclave concluded with a valedictory session by Loken Das, Chief General Manager, NABARD.
