Daijiworld Media Network - New Delhi

New Delhi, Jun 16: Union Finance and Corporate Affairs Minister Nirmala Sitharaman on Sunday 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.