'Out-of-Box' banking solutions required for NER : Aiyer

New Delhi, Oct 4 (UNI) Minister for Development of Northeastern Region (DoNER), Mani Shankar Aiyer, today stressed the need for 'out-of-box' and non-conventional banking systems to exploit the huge potential of the Northeastern region.

Speaking at a Special Summit on Banking Industries and Credit Issues in the Northeastern Region, the Minister said a synergy needed to be worked out between those systems and conventional banking for effective results.

He said the NER neded a gestation period and in the next 12 years would catch up with national growth rate.

Finance Minister P Chidambaran, who also spoke, said banks would continue to lend and provide all other services in NE in greater and higher measure.

The Summit deliberated on various issues including overview of the banking and credit issues in NER, financial inclusion of the NER, industrial growth and credit systems in the NER and micro-finance in the region.

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