Guwahati, Oct. 14 -- Union Minister Jyotiraditya M. Scindia has called on banks to step up lending across the Northeast, highlighting a significant gap between deposits and credit disbursal in a region that he said was registering annual economic growth of 9-11%.

Speaking at the North East Bankers' Conclave 3.0 at Mizoram University in Aizawl on Tuesday, the Union Minister for Development of North Eastern Region and Communications said banks extended only Rs 47 in credit for every Rs 100 deposited in the region.

He urged financial institutions to increase lending to entrepreneurs, farmers, women and micro, small and medium enterprises (MSMEs), arguing that wider access to banking services must translate into economic opportunities.

Sci...