Itanagar, Jun 24: Chief Minister Pema Khandu has emphasized the importance of expanding access to institutional credit to unlock the potential of entrepreneurs and Micro, Small and Medium Enterprises (MSMEs) in Arunachal Pradesh.
Presently on an official tour to his home district Tawang, the Chief Minister held a meeting with Rajib Bhagawati, Regional Manager, SBI Regional Business Office (RBO), Tezpur, on Tuesday to discuss measures aimed at improving financial inclusion and strengthening the state's entrepreneurial ecosystem.
The discussions focused on improving the credit-deposit (CD) ratio, enhancing support for MSMEs, expanding business opportunities through bank partnerships and streamlining access to finance for aspiring entrepreneurs and business owners.
Khandu noted that easier access to institutional credit is crucial for fostering economic growth, encouraging entrepreneurship and generating employment opportunities across the state.
The meeting also reviewed key parameters considered by banks while sanctioning loans, including land valuation, financial documentation, repayment capacity and other eligibility requirements.
The Chief Minister stressed the need for greater coordination between financial institutions and government agencies to ensure that genuine entrepreneurs, startups and MSMEs are able to access timely credit and benefit from various development initiatives.
The deliberations form part of the state government's broader efforts to strengthen the business environment, improve financial outreach and promote sustainable economic development in Arunachal Pradesh.