North East Bankers' Conclave 2023 to Deliberate on Challenges Facing Banking Sector in NE

GUWAHATI: The North Eastern Development Finance Corporation Limited (NEDFi) will organise the North East Bankers' Conclave 2023 in New Delhi on Friday in a bid to discuss threadbare the specific challenges faced by the banking sector in the northeast, including outreach and inclusive service delivery in the region,

The North East Bankers' Conclave 2023 will be organised by NEDFi with support from the Ministry of Development of North Eastern Region (DoNER).

NEDFi managing director PVSLN Murty told the media on Wednesday in Guwahati that the conclave is the first such leadership event being specifically organised to deliberate on the challenges of banking sectors in the northeast and to come up with effective strategies to address the issues at various levels, starting from policy planning to implementation at the grassroots-level.

The conclave will witness the participants ponder on specific challenges of the banking sector of northeast, which includes credit support to MSMEs and startups of northeast, implementation of central/state scheme by the banks in northeast and credit to agriculture, horticulture and allied sector.

Union minister for tourism, culture and DoNER G Kishan Reddy will attend the conclave along with several delegates and dignitaries.

NEDFi is notified as a Public Financial Institution under Section 4A of the Companies Act 1956 and was registered as an NBFC in 2002 with RBI. The management of NEDFi has been entrusted upon the Board of Directors comprising representatives from shareholder institutions, DoNER, State Governments and eminent persons from the NE Region and outside having wide experience in industry, economics, finance and management.

NEDFi provides financial assistance to micro, small, medium and large enterprises for setting up industrial, infrastructure and agri-allied projects in the North Eastern Region of India and also Microfinance through MFI/NGOs. Besides financing, the Corporation offers Consultancy & Advisory services to the state Governments, private sectors and other agencies.

NEDFi conducts sector or state specific studies under its Techno-Economic Development Fund (TEDF) and is the designated nodal agency for disbursal of Govt. of India incentives to the industries in the North-East India under North–East Industrial and Investment Promotion Policy 2007 (NEIIPP 2007).

The other promotional activities of NEDFi includes NEDFi Convention Center, NEDFi Pavillion, Promotion of craft sector etc.

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