The meeting was attended by M. Nagaraju, Secretary of the Department of Financial Services (DFS), along with chairpersons of RRBs, sponsor banks including the Chairman of SBI and Managing Director of PNB, senior DFS officials, and representatives from the RBI, NABARD, SIDBI, and officials from the seven northeastern states.

In the meeting, Sitharaman emphasized the vital role of RRBs in supporting the rural economy and urged them, with the help of their sponsor banks, to boost credit disbursement under key Government of India schemes like MUDRA and PM Vishwakarma. She highlighted the need to focus on providing credit for agriculture, horticulture, and allied sectors such as piggery, goatery, sericulture, and fisheries. The Minister also directed NABARD to promote Farmer Producer Organizations (FPOs) in the region.

The Finance Minister called for the organization of special State Level Bankers' Committee (SLBC) meetings with RRBs to explore opportunities in horticulture, floriculture, sericulture, and animal husbandry across the North-East. She also stressed the need to address issues related to land records for agricultural credit and increase financing for agri-processing units. States were urged to ensure mobile veterinary services were available in rural areas.

Additionally, she underscored the importance of ensuring every eligible person in the North-East is covered under the Pradhan Mantri Jan Dhan Yojana (PMJDY). She directed the DFS to collaborate with the Ministry of Development of North Eastern Region (DoNER) and the North Eastern Council (NEC) to extend credit to One District One Product (ODOP) vendors in the region.

The Finance Minister also advised RRBs to develop tailored products for MSMEs and leverage their local presence to enhance financial penetration in rural areas. Furthermore, RRBs, along with their sponsor banks and NABARD, were instructed to open new banking touchpoints in underserved regions, particularly in Nagaland and Arunachal Pradesh.

Meanwhile, the Meghalaya government has signed a Memorandum of Understanding (MoU) with The/Nudge Institute to uplift 50,000 of the state’s poorest households, with a special focus on single mothers and their families. This initiative aims to drive social inclusion, financial empowerment, and livelihood development for these marginalized groups.

The program will offer livelihood coaching and tight handholding support, particularly for single mothers who often face economic hardships. Through a dedicated community cadre, these households will receive assistance in developing sustainable livelihoods, while also benefiting from a broader social protection framework designed through departmental collaboration and advanced monitoring technologies.

The partnership was officially announced at the North-East Conclave on September 27 in Shillong, co-hosted by the Meghalaya State Rural Livelihoods Society (MSRLS) and The/Nudge Institute. The conclave, titled "Strengthening Ecosystem for the Development of the Most Excluded and Poorest of the Poor," underscored the importance of addressing the pressing needs of vulnerable populations, especially women-led households.

Sampath Kumar, Principal Secretary and Development Commissioner of Meghalaya, highlighted the significance of this focus, stating, "The Government of Meghalaya is committed to inclusive development, and this partnership with The/Nudge Institute to support 50,000 single mothers and the poorest households is a crucial step in that direction."

The conclave brought together key stakeholders from various states, including Andhra Pradesh, Assam, and Bihar, to share their experiences in livelihood development. Prominent figures such as Shri A.T. Mondal, Honourable Minister for Community and Rural Development, and Shri Charanjit Singh, Additional Secretary at the Ministry of Rural Development, were in attendance.

A success-story compendium titled Against All Odds, which celebrates the resilience of women from self-help groups in Meghalaya, was also launched, showcasing the positive impact of such initiatives. (IPA Service)