Finance Minister Nirmala Sitharaman Launches Credit Outreach in Leh, Backs Cultural and Economic Empowerment in Ladakh.

Leh, June 15:
Union Finance Minister Smt. Nirmala Sitharaman today led a significant Credit Outreach Programme in Leh, where she emphasized the Government of India’s commitment to inclusive financial growth and the preservation of Ladakh’s unique cultural identity. During the event, loan sanctions exceeding ₹5.13 crore were distributed under flagship schemes such as MUDRA, PMEGP, Stand-Up India, and PM Vishwakarma, benefiting homestay owners, artisans, and micro-entrepreneurs.

The Minister noted that over 64,000 MUDRA loans and more than 600 Stand-Up India loans have been sanctioned in Ladakh, with Public Sector Banks enhancing outreach in the region. She praised the growing financial infrastructure with 500+ banking touchpoints, improved access through banking correspondents, and steady growth in credit delivery.

Highlighting the synergy of tradition and development, Sitharaman referenced cultural initiatives like the Ladakh Official Languages Act, GI tagging of Ladakhi products (such as Raktsey Karpo apricots, Pashmina wool, and Seabuckthorn), and the recognition of Pali as a classical language. She also spoke about the Sindhu Central University, University of Ladakh, and National Institute of Sowa-Rigpa, established to preserve indigenous knowledge and expand educational access.

The event also spotlighted progress in digital connectivity, renewable energy, and BharatNet implementation, reinforcing the Centre’s goal of linking financial empowerment with cultural sustainability.

Dignitaries present included Ladakh’s Chief Secretary Shri Pawan Kotwal, MP Shri Haneefa Jan, and SBI’s DMD Shri Surender Rana.

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