Manipur Bank

Manipur will get 30 new bank branches and 40 new ATM centres to improve the state’s banking services, Union Minister of State for Finance Dr Bhagwat Kishanrao Karad said on Friday in a press conference in Imphal.

The state will also get 16 NABARD banks in all 16 Manipur districts to improve borrowing facilities and services for the state’s farmers, the Minister added.

Karad, who landed in Imphal on Thursday, met with Manipur CM N Biren, state finance minister Y Joykumar and finance department officials to learn about Manipur’s financial situation.

The minister was informed that the state’s bank ratio per lakh is only 12, whereas the national average is 40. The new bank branches will seek to address this issue, he added.

In addition, all 16 districts of Manipur will help farmers avail the Kisan Credit Card. Currently, few state farmers use such facilities due to a lack of financial literacy. The minister also pushed for improving the state’s financial literacy. To improve the same, banks would organise door-to-door campaigns to help individuals open banks accounts across the state.

Karad said the state’s banking services had improved under the leadership of Chief Minister N. Biren Singh. The opening of bank accounts under Pradhan Mantri Jan Dhan Yojana is far better in Manipur than the national average, he added.

Earlier during the day, the Union MoS also attended the Credit Outreach program at the CM Secretariat organised by the SBI. During the event, they disbursed Rs. 65.50 crore to 1,570 beneficiaries.

On the occasion, Chief Minister Shri N. Biren Singh and Union Minister of State for Finance Dr Bhagwat Kishanrao Karad also inaugurated SBI branches at Motbung and Jiribam and an ATM at Imphal.

Deputy Chief Minister Y. Joykumar Singh, Minister for Education S. Rajen Singh, Deputy Speaker of Manipur Legislative Assembly K. Robindro Singh, Chief General Manager, SBI North East Circle R.S. Ramesh and others were present during the function.

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