CNN Central News & Network-ITDC India Epress/ITDC News Bhopal: A demand has been raised to speed up the expansion of banking facilities in rural areas of Northeast India, with an emphasis on taking banking services to villages in the region. Mazumdar stressed the need to work faster in this direction and said it is necessary to increase access to banking services in remote villages. This could make it easier for local residents to benefit from financial transactions, savings, loans and services linked to government schemes.
According to available information, about 73 percent of the identified villages in the Northeast have been covered under efforts to provide banking facilities. However, extending services to the remaining villages remains an important challenge. Due to geographical conditions, difficult terrain and limited infrastructure, expanding the banking network in some locations may be difficult.
The availability of banking facilities in rural areas can strengthen financial inclusion by giving people better access to bank accounts, digital payments, direct benefit transfers and various financial schemes. It may also help reduce dependence on cash transactions and bring more people into the formal financial system.
For banking expansion in villages of the Northeast, strengthening bank branches along with banking correspondents, mobile banking and digital services could be useful. It is also important to make local people aware of digital transactions and banking security. The expansion of banking services should not be limited only to the availability of accounts; people must also receive regular and reliable services. Efforts to connect the remaining villages with the banking network could help advance financial inclusion in the region.
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