How is Mizoram CM Lalduhoma urging banks to enhance outreach in remote areas?
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Synopsis
In a significant appeal, Mizoram's Chief Minister Lalduhoma urges banks to extend their services to remote areas, emphasizing the importance of agricultural development for the state’s progress. The call comes during the State Credit Seminar 2026-27, highlighting the need for equitable banking access and announcing significant credit allocations for priority sectors.
Key Takeaways
- Need for banking outreach: Expanding banking services to remote areas is essential for economic growth.
- Credit allocation: The State Focus Paper outlined a significant credit outlay for priority sectors.
- NABARD's role: NABARD supports crucial development projects in Mizoram.
- Rubber Mission: The state is actively pursuing rubber cultivation initiatives.
- Sustainable development: Improved rankings in the NITI Aayog index highlight the success of state efforts.
Aizawl, December 15 (NationPress) The Chief Minister of Mizoram, Lalduhoma, called upon banking institutions on Monday to broaden their services for individuals residing in the state’s hilly and remote regions.
Speaking at the State Credit Seminar 2026–27, hosted by the National Bank for Agriculture and Rural Development (NABARD), the CM emphasized that approximately 80 percent of Mizoram’s populace relies on agriculture for their survival, making agricultural advancement crucial to the state's overall development.
He pointed out that Mizoram houses 278 bank branches, with 180 situated in Aizawl, Lunglei, and Kolasib districts. The remaining eight districts collectively have just 95 branches, prompting him to advocate for a more balanced distribution of banking facilities throughout the region.
While unveiling the State Focus Paper 2026-27, the Chief Minister detailed that the government collaborates with NABARD to implement various developmental projects, which are vital for the state’s progress.
This document outlines a credit allocation of Rs 4,349.71 crore for priority sectors, including Rs 2,260.99 crore for agriculture and allied activities, Rs 1,500.35 crore for MSMEs, Rs 6.55 crore for export credit, Rs 18.51 crore for education, Rs 432.35 crore for housing, Rs 36.30 crore for social infrastructure, Rs 24.67 crore for renewable energy, and Rs 70 crore for various other sectors.
Highlighting NABARD’s contributions, Lalduhoma mentioned ongoing projects such as the 10 MW Thenzawl solar power plant in Serchhip district, funded by NABARD, which is nearing its completion. Additionally, a 5 MW solar initiative is set to commence at Sumsuih in Aizawl district.
The Chief Minister also shared that the Chief Minister's Rubber Mission is actively in progress, with 4.50 lakh rubber saplings planted last year and plans to plant over 11 lakh saplings this year.
Referring to the recent NITI Aayog Sustainable Development Index, he stated that Mizoram’s improved rankings are indicative of the state’s fruitful development strategies.
In the latest index, Hnahthial district secured the top position, followed by Champhai in second place and Kolasib district at ninth within the Northeast region.
Chief Secretary Khilli Ram Meena delivered the keynote speech at the seminar, emphasizing the state government’s achievements in collaboration with NABARD and the challenges that lie ahead. He commended NABARD for the successful organization of the seminar.
The Secretary of the State Agriculture & Farmers Welfare Department, Ramdinliani, also addressed the seminar, leading into an engaging discussion session with the attendees.
Point of View
The call by Mizoram's Chief Minister Lalduhoma for banks to extend their reach into remote areas underscores a vital need for equitable access to financial services. As the state heavily relies on agriculture, this initiative can potentially uplift the livelihoods of many, showcasing the importance of inclusive financial strategies.
NationPress
15/12/2025
Frequently Asked Questions
Why is expanding bank outreach important in Mizoram?
Expanding bank outreach is crucial in Mizoram as approximately 80% of the population relies on agriculture, and access to financial services can significantly enhance agricultural development and overall economic growth.
What is the focus of the State Focus Paper 2026-27?
The State Focus Paper 2026-27 outlines a credit allocation of Rs 4,349.71 crore for priority sectors, with significant portions dedicated to agriculture, MSMEs, and housing, highlighting the government's commitment to development.
What initiatives have been supported by NABARD in Mizoram?
NABARD has funded various initiatives in Mizoram, including the 10 MW Thenzawl solar power plant and the Chief Minister's Rubber Mission, which aims to increase rubber production in the state.
How has Mizoram performed in the NITI Aayog Sustainable Development Index?
Mizoram has shown improved performance in the NITI Aayog Sustainable Development Index, with districts like Hnahthial and Champhai ranking high in the Northeast region, reflecting effective development efforts.
What role does NABARD play in Mizoram's development?
NABARD acts as a catalyst for development in Mizoram, collaborating with the government to implement various projects and initiatives aimed at boosting the state's agricultural and economic growth.
