AGARTALA: Union Home Minister Amit Shah on Saturday urged the country’s banking sector to adopt region-specific guidelines and parameters to unlock the untapped potential of the Northeast.
He stated that the region’s development is a national responsibility and not merely a business opportunity.
Speaking at a Bankers’ Conclave in Agartala, Shah called for a proactive approach from banks, highlighting the unique socio-economic and geographical conditions of the region that demand a tailored framework for financial services and investments.
“You must frame separate guidelines and parameters for the Northeast. This is not just about business; the development of the Northeast is a national responsibility,” Shah said.
He stressed that the region is currently one of the most promising business destinations in the country, with immense potential waiting to be explored.
To facilitate this, the Home Minister directed the Secretary of Banking in the Ministry of Finance, NABARD, and SBI to work together to create robust banking policies specifically designed for the Northeast.
These policies, Shah suggested, should include special financial packages and risk-taking mechanisms to encourage investments and ensure inclusivity.
“The Northeast is rich in resources and opportunities that must be integrated into India’s broader development journey. Banks need to prepare innovative packages and take calculated risks to support the region’s growth,” Shah added.
Highlighting the government’s ongoing commitment to the Northeast’s progress, Shah underlined the importance of a banking system that is both accessible and responsive to the unique challenges faced by the region.
He also emphasised the role of financial institutions in creating an enabling ecosystem for entrepreneurship, agriculture, and infrastructure development.
The Home Minister’s appeal comes as part of the government’s broader push to transform the Northeast into a hub of economic activity, aligning with Prime Minister Narendra Modi’s vision of inclusive development.
Shah expressed confidence that with the right policies, the Northeast could emerge as a key driver of India’s growth.
The conclave witnessed participation from top banking officials and policymakers, reflecting the government’s focus on creating a more equitable financial framework for the region.
Shah’s address is expected to catalyse efforts towards framing comprehensive and customized banking solutions for the Northeast.
