Union Minister of State for Finance Bhagwat Kishanrao Karad on Wednesday said 57 new bank branches will be set up in Assam by March next year to bring more people under the ambit of banking.
At an event to launch a ‘credit outreach program’ here, Karad said the central government is taking all possible steps to expedite the economic development of the Northeastern region.
“By March 31, 2022, we will have 57 new branches of various banks. This step has been taken as Assam has less number of branches against its population as per the standard norm and people are facing difficulties because of this,” he added.
Considering the problems of the people, Prime Minister Narendra Modi has taken various initiatives to accelerate the economic growth of the northeast and Jammu and Kashmir, he said.
Karad said, “I have come to visit Assam, Manipur, and Tripura to assess the economic issues faced by the common man. We will try to solve the problems of these states.” He expressed happiness over Assam achieving satisfactory results in implementing various financial schemes such as Mudra Loan and Kishan Credit Card among others.
“The state’s economic growth is directly related to financial literacy. If people are literate about financial aspects, only then overall economic growth will be achieved,” Karad said.