Roundtable Session Held On “Increasing Credit Flow In Meghalaya”

Posted in Featured, Meghalaya, Northeast

 

  • NET Web Desk

In an attempt to create synergies ensuring seamless credit flow for business and economic growth in Meghalaya, a Round Table Session – “Increasing the Credit Flow in Meghalaya” was held today at Pine Wood Banquet Hall in Shillong under the chairmanship of the Commissioner and Secretary of Finance Department – Dr. Vijay Kumar D., IAS.

The programme was organized by the state government in collaboration with Invest India – the National Investment Promotion and Facilitation Agency.

Delivering the keynote address, Dr. Vijay Kumar said that the vision of the Government is to make Meghalaya one of the top ten performing states in the country by 2032; which can be accomplished through strong, vibrant, and thriving private sector that allows growth and job creation.

Stating that the “blood flow” of the private sector is credit, he stressed on the crucial role that banking sector and other financial services can play to create an enabling environment for the growth of the private sector.

Reiterating the need to reduce dependability on government schemes, Dr. Vijay Kumar said that people should not shy away from taking credit for the enhancement of their businesses and stressed on the need to leverage on the banking system. He in turn also urged the banking and financial services players to ease banking services.

Delivering the concluding remarks, the Commissioner of State Investment Promotion – Dr. B.D.R Tiwari, IAS; highlighted the importance of digital technologies, made available in a vernacular-based format, to increase financial literacy & awareness in the state, and emphasized on the vision to make Meghalaya “one of the top 10 states” by the next decade.

Meanwhile, the Vice President of Invest India – Varun Sood highlighted the various state government initiatives that have been undertaken to support the entrepreneurs in the state.

He stated that ‘credit is the lifeline for the private sector’ and stressed on the importance of sustainable partnerships between the banks and the entrepreneurs for creating adequate demand-supply for credit in the economy.

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