New Delhi, June 15 (IANS) Union Finance and Corporate Affairs Minister Nirmala Sitharaman on Sunday handed over loan sanction letters worth Rs 5.13 crore to beneficiaries in Ladakh’s Leh, under various Central government financial inclusion schemes.

The move is part of the Centre’s continued efforts to empower local communities through targeted economic support and strengthen entrepreneurship in remote regions like Ladakh.

The Finance Minister distributed the sanction letters during the Credit Outreach Programme organised in Leh, where beneficiaries of schemes such as the Pradhan Mantri Mudra Yojana (PMMY), the PM Vishwakarma Yojana, the Prime Minister’s Employment Generation Programme (PMEGP), the PM Formalisation of Micro Food Processing Enterprises (PM-FME) Scheme, and Joint Liability Group (JLG) loans received official support from participating banks.

FM Sitharaman, who is on a four-day visit to Ladakh, also interacted with beneficiaries and bank officials during the programme.

Her visit comes at a time when the government is increasing its focus on financial inclusion in aspirational and border regions.

Through these initiatives, the government aims to promote local entrepreneurship, generate employment, and ensure equitable access to formal credit systems.

Earlier in the day, the Finance Minister visited an exhibition in Leh featuring local handicrafts, handloom products, and sustainable innovations developed by women-led self-help groups (SHGs) and small entrepreneurs.

She praised their creativity and the role they play in preserving Ladakh’s cultural heritage, while also contributing to rural economic development.

The Centre’s flagship schemes, like the PM Mudra Yojana and DAY-NRLM, have played a key role in driving financial inclusion across India.

Under the PMMY alone, over 52 crore loans worth Rs 32.61 lakh crore have been sanctioned since its launch, with nearly 70 per cent of the beneficiaries being women entrepreneurs.

The scheme’s emphasis on collateral-free credit has enabled small business owners, particularly in rural and semi-urban areas, to become financially independent.

The Finance Minister was also scheduled to meet with officials from the Ladakh Autonomous Hill Development Council (LAHDC) and the Union Territory administration, and inaugurate various developmental projects during her visit.

–IANS

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