445/2026-2027

Dated Aizawl, the 13th October 2026 : Dr. Sukanta Majumdar, Union Minister of State for the Ministry of Development of North Eastern Region (DoNER), attended the closing session of the North East Bankers’ Conclave 3.0 at the Mizoram University Auditorium, Aizawl, today where he emphasised the importance of strengthening cooperation among governments, banks and financial institutions to accelerate development in the North Eastern Region.

Addressing the gathering, Dr. Majumdar highlighted the significant potential of the North Eastern states in sectors such as agriculture, tourism, entrepreneurship and infrastructure. He stressed the importance of harnessing the unique strengths and opportunities of each state to promote inclusive and sustainable growth, welcoming the Conclave as an important platform for bringing together government representatives, banks and financial institutions to deliberate on common challenges and identify practical solutions.

Recalling the earlier editions of the Conclave, Dr. Majumdar stated that the first North East Bankers’ Conclave, held in New Delhi, deliberated on improving credit access for Micro, Small and Medium Enterprises (MSMEs), start-ups and the agriculture sector, as well as expediting the implementation of Central and State Government schemes whereas the second edition, held in Agartala, focused on expanding banking infrastructure, including the opening of new bank branches and ATMs, and extending banking services to previously unbanked villages.

He noted that these initiatives had yielded encouraging results as following the two editions of the Conclave, 131 new bank branches had been opened, 126 new ATMs had been installed, and banking services had been extended to 6,905 previously unbanked villages.

However, Dr. Majumdar pointed out that 2,574 identified villages still remains without banking facilities attributing the gaps lack of suitable buildings, inadequate all-weather roads, and gaps in VSAT or fibre connectivity. He further expressed concern that, with the exception of Manipur and Assam, the other North Eastern states had Credit-Deposit ratios below the national average of 79.5 per cent. He emphasised the need to address these gaps to improve financial inclusion and ensure that the benefits of banking and credit facilities reach all sections of society.

The Union Minister reiterated that the development of North-East India remains a priority for the Central Government highlighting the role of the Ministry of DoNER in supporting development initiatives through programmes such as the Prime Minister’s Development Initiative for North East Region (PM-DevINE), the North East Special Infrastructure Development Scheme (NESIDS) and the North Eastern Council (NEC). He stated that, as of 30 September 2026, the outlay under these schemes for Mizoram stands at ₹1,340 crore.

Emphasising that meaningful development could be achieved only through effective collaboration; Dr. Majumdar urged the representatives of the State Governments, banks and the Central Government to work collectively to implement the decisions and recommendations emerging from the Conclave. He underscored the importance of translating discussions and plans into tangible outcomes calling upon all the atendees to move from repeated assurances to measurable outcomes. He expressed confidence that the Conclave would open up new avenues for development not only in Mizoram but across all the North Eastern states.

The Valedictory Session featured presentations from four Breakout Groups on key topics, namely: Banking Infrastructure and Financial Inclusion; Credit Flow to MSMEs and Entrepreneurs; Financing of Agriculture, Allied Activities and Rural Entrepreneurs; and Infrastructure Finance in the North Eastern Region.

The Conclave concluded with a vote of thanks by Shri P. V. S. L. N. Murty, Chairman and Managing Director of the North Eastern Development Finance Corporation Ltd. (NEDFi).