Patna, Nov 29, 2024, IANS

Patna, Nov 29 (IANS) Union Finance Minister Nirmala Sitharaman arrived in Patna on Friday for a two-day visit with the aim to focus on boosting rural banking, entrepreneurship, and financial inclusion in the eastern region. FM Sitharaman will assess the financial performance of eight rural banks from the eastern zone in Patna. The banks involved include representatives from Bihar (two banks), Odisha (two banks), Jharkhand (one bank), and West Bengal (three banks) who will participate in the meeting chaired by the Union Finance Minister. FM Sitharaman will evaluate the extent of bad loans and strategies for reducing NPAs in rural banks. She will also examine the loan disbursement process and its impact on rural development. She will also explore the measures to enhance the digital capabilities of rural banks, improving accessibility and efficiency for customers. Following the meeting in Patna, she will go to Darbhanga to participate in the Entrepreneurship Development Promotion Program. During that event, 26 banks will collectively disburse loans worth ₹1,300 crore. Beneficiaries include small entrepreneurs, agriculture-based industries, and 45,000 youths of the eastern region. An event will be organised in Raj Maidan Darbhanga. The objective of the event is to promote self-reliance, boost local economies, and support agriculture and small industries. These measures aim to strengthen rural banking infrastructure and facilitate economic growth in eastern India. Promoting entrepreneurship and youth engagement through financial support aligns with the government’s initiatives like ‘Atmanirbhar Bharat (self-reliant India)’ and rural development programs. The FM’s visit to Darbhanga highlights the Union government's commitment to the economic and social development of the Mithilanchal region, as emphasised by Darbhanga MP Gopal Thakur. After the loan distribution event, FM Sitharaman will address a public meeting at the same venue. The speech is expected to emphasise the government's development priorities for Mithilanchal region, support for small industries and self-reliance initiatives, and updates on recent financial and infrastructure programs aimed at uplifting the region. Darbhanga MP Gopal Thakur noted that the back-to-back visits of Prime Minister Narendra Modi and the FM to Darbhanga within a month underline the Centre’s focus on the progress of Mithilanchal. “These high-profile visits signify the government's intent to prioritise development in Bihar and its commitment to empowering rural and semi-urban areas through financial interventions,” Thakur said.