A Credit Outreach Program was organised by the Union Territory Level Bankers' Committee (UTLBC) Ladakh on June 15 at Hotel Grand Dragon, Leh. The event was chaired by the Finance Minister of India, Nirmala Sitharaman.

The program was attended by Member of Parliament Mohammad Haneefa, Chief Secretary Dr. Pawan Kotwal, Deputy Managing Director of the State Bank of India Surender Rana, senior officials from the Department of Financial Services (DFS), UT Administration, various banks, and financial institutions.

Surender Rana, Deputy Managing Director, SBI, welcomed the Finance Minister and dignitaries, and highlighted the collective efforts of banks in promoting financial inclusion and the positive social impact of various government-backed financial schemes in Ladakh.

As part of the Credit Outreach initiative, sanction letters amounting to ₹5.12 crore were distributed among 25 beneficiaries under various government credit linkage schemes, financed by participating banks. These schemes are designed to enhance credit access and foster inclusive growth, particularly in remote and high-altitude areas of Ladakh.

The event also celebrated local entrepreneurship, with 15 stalls set up by Ladakhi entrepreneurs supported by banks and NABARD. These stalls showcased local products, handicrafts, and services, and received wide appreciation from the dignitaries.

In her address, Finance Minister Sitharaman reaffirmed the Government of India’s commitment, under the leadership of Prime Minister Narendra Modi, to the holistic development of the Union Territory of Ladakh. She expressed satisfaction with the implementation of government-sponsored schemes, particularly in the remote regions of Leh, and lauded the efforts of banks in delivering financial services and promoting inclusion.

Reflecting on India's rich pre-colonial heritage, the Minister invoked the nation’s “Golden Period” when villages thrived as centers of traditional skills and entrepreneurship, forming the backbone of the local economy.

She emphasized the transformative impact of the JAM Trinity—Jan Dhan, Aadhaar, and Mobile—introduced after 2014, which enabled seamless Direct Benefit Transfers (DBT) and eliminated middlemen. This innovation, she noted, enhanced individual creditworthiness and strengthened banks' confidence in lending. She highlighted that PMJDY accounts now collectively hold balances exceeding ₹2 lakh crore.

The Minister acknowledged the targeted support extended in Ladakh to sectors such as local crafts, agriculture, food processing, and handicrafts—empowering communities to expand their ventures and access wider markets. She also noted that banking infrastructure in the region has expanded to 539 operational touchpoints, ensuring last-mile connectivity.

Discussing infrastructure developments, the Finance Minister highlighted the ongoing all-weather tunnel projects to improve regional accessibility, renewable energy initiatives to make Ladakh energy self-sufficient, NTPC’s green hydrogen efforts, and the introduction of green buses in Leh. She also mentioned the upcoming BharatNet expansion and new mobile towers that will ensure digital connectivity for every panchayat.

She further celebrated the inclusion of Pali among India’s Classical Languages, underlining the government’s dedication to preserving ethnic and indigenous languages. In line with recent budget announcements, she reiterated the Centre’s focus on layered tourism in Ladakh, with support for homestays and related tourism infrastructure.