Cottage and Small and Industries (CSI) bank will now come to the rescue of rural people as Priority Sector Lending scheme is a lengthy process. Finance Minister Namgay Tshering shared that while the government is working on reducing time through different approaches, CSI bank will be established in two weeks time to support the rural communities.
This was shared in response to the question by the Member of Parliament (MP) of Khar-Yurung during the question hour of the National Assembly.
“There are many complications associated with Priority Sector Lending. The process of availing loan is very long and complicated. I would like to know from the Finance Minister about the plans and programmes that the government has to resolve this issue?” asked Tshering Chhoden, the Khar-Yurung MP.
“From this day on, when a person applies for a loan, we will try our best to shorten the duration through various means possible. Even if the Dzongkhag approves, banks lack trust to provide the loan at times. So we will also resolve this issue. The other important thing is, the government will establish the new CSI bank in 10 days time. It will directly help our people. We also have plans to establish branch offices of CSI bank in all 205 gewogs of the country,” informed Namgay Tshering, the Finance Minister.
Tshering Dendup
