In a statement, the finance ministry stated that Sitharaman made those remarks in Leh, Ladakh, while addressing a credit outreach programme, underscoring the Government of India’s commitment to financial inclusion, last-mile delivery of credit, and the integration of Ladakh’s unique cultural identity into the broader developmental framework.
As part of the credit reach, loan sanctions exceeding ₹5.13 crore were disbursed under key central schemes such as MUDRA, PMEGP, Stand-Up India, and PM Vishwakarma. Beneficiaries ranged from homestay owners and artisans to small-scale entrepreneurs, reflecting the government’s focus on micro-enterprise and self-employment, the statement noted.
Sitharaman highlighted that over 64,000 MUDRA loans and more than 600 Stand-Up India loans have been sanctioned in Ladakh, with a significant share in Leh district alone. Public Sector Banks have shown increased credit activity in the region, with total loan sanctions rising steadily over the last two financial years, the finance ministry said in its statement.
The FM also commended the expansion of financial infrastructure in Ladakh, with over 500 banking touchpoints and increasing deployment of banking correspondents.
Reaffirming the Centre’s vision for Ladakh, the finance minister reiterated that financial growth must include cultural heritage, the statement noted.
Content Source: economictimes.indiatimes.com