Boosts financial inclusion in UT with Rs 5.13 crore loan sanctions
Leh: Lt Governor Brig (Dr) BD Mishra (Retd) on Sunday discussed various issues related to the development of Ladakh with Finance Minister Nirmala Sitharaman, who is on a four-day tour of the cold desert region.
The First Lady, Neelam Mishra, also met the Finance Minister.
Later, the Minister delivered the keynote address at the Credit Outreach Programme in Leh. She handed over bank sanction letters for loans amounting to Rs 5.13 crore to beneficiaries under various central government schemes, including the PM MUDRA Yojana, PM Vishwakarma Yojana, PMEGP, PM Micro Food Processing Enterprises Scheme (PM FME), and Joint Liability Group (JLG) loans.
Sitharaman virtually inaugurated several development projects in Leh, reaffirming the commitment of the Government of India to inclusive growth and infrastructure development in the Union Territory of Ladakh.
The Finance Minister also interacted with the officials of the Union Territory administration.
Sitharaman visited an exhibition of local handicrafts and handloom products by Self-Help Groups (SHG) and Local Entrepreneurs in Leh, where she interacted with Rinchen Dolma, a beneficiary of the PM Mudra Scheme.
“What a spectacular drive there is in her to use a government scheme and showcase what she has grown. Very well done,” the Finance minister said.
She encouraged Dolma to move into the next phase of the PM Mudra Scheme and scale up her business.
She interacted with artisans, women-led SHGs, and local entrepreneurs, showcasing traditional crafts, handloom textiles, and sustainable innovations at their stalls. Sitharaman appreciated the entrepreneurial spirit and creativity of the artisans, highlighting their role in preserving cultural heritage and boosting rural livelihoods in the Union Territory.
Earlier, she visited the 17th-century Leh Palace, standing on a steep mass of sandy rock hill, dominating the city built by the revered king Sengge Namgyal.
She also visited the Shanti Stupa in Leh. The 14th Dalai Lama, Tenzin Gyatso, had laid the foundation stone of the Ladakh Shanti Stupa, and it was inaugurated by Venerable Thiksey Khenpo Rinpoche.
Meanwhile, she disbursed loan sanction letters totaling Rs 5.13 crore to beneficiaries in Leh, as part of the government’s financial inclusion outreach in the Union Territory of Ladakh.
The disbursal, conducted under a range of Central financial empowerment schemes, took place during a Credit Outreach Programme in Leh. The initiative is part of the Centre’s larger push to bolster entrepreneurship, facilitate access to credit, and drive inclusive growth in remote and border regions.
Beneficiaries received official sanction letters under schemes including the Pradhan Mantri Mudra Yojana (PMMY), PM Vishwakarma Yojana, Prime Minister’s Employment Generation Programme (PMEGP), PM Formalisation of Micro Food Processing Enterprises (PM-FME), and Joint Liability Group (JLG) loans, among others.
During the programme, Sitharaman also interacted with both beneficiaries and bank representatives, emphasizing the importance of such schemes in transforming local livelihoods.
Her visit underscores the government’s increasing focus on empowering aspirational regions like Ladakh by facilitating grassroots economic activity, promoting small businesses, and enhancing access to formal financial services.
Earlier in the day, the Finance Minister visited an exhibition in Leh showcasing local handicrafts, textiles, and sustainable products developed by women-led Self-Help Groups (SHGs) and local entrepreneurs. Commending the innovation and resilience of these women, Sitharaman lauded their contributions to preserving Ladakh’s cultural identity and driving rural economic growth.
The Centre’s financial inclusion schemes — notably PM Mudra Yojana and Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM) — have played a significant role in broadening the credit landscape in underserved regions. Under PMMY alone, over 52 crore loans worth Rs 32.61 lakh crore have been sanctioned nationwide, with women constituting nearly 70% of the total beneficiaries.
Sitharaman’s four-day visit to Ladakh includes planned meetings with officials from the Ladakh Autonomous Hill Development Council (LAHDC) and the UT administration, along with inaugurations of key developmental projects aimed at further enhancing the region’s infrastructure and growth potential.
