Finance Ministry official highlights banking growth during Tripura visit
M Nagaraju attended two credit outreach programmes in Tripura where Rs 604 crore in loans was sanctioned to around 8,000 beneficiaries. He said banking growth was at a record 15.90 per cent and NPAs had fallen to 0.40 per cent, underlining the push for wider financial inclusion.
- May 26, 2026,
- Updated May 26, 2026, 7:59 PM IST
M Nagaraju,IAS, Secretary, Department of Financial Services, Ministry of Finance on May 26 highlighted the strong performance of India’s banking sector while attending two credit outreach programmes in Tripura, where loans worth Rs 604 crore were sanctioned to around 8,000 beneficiaries.
Speaking to reporters in Agartala, the senior Union Finance Ministry official said both public and private sector banks in the country are performing “very well” with an annual growth rate of 15.90 per cent, which he described as the highest in Indian banking history.
He also noted that Non-Performing Assets (NPAs) across the country have dropped significantly to 0.40 per cent compared to previous years.
During his visit to Tripura, Nagaraju participated in programmes aimed at strengthening financial inclusion and expanding credit support for beneficiaries across different sectors.
The sanctioned loans are expected to support small businesses, entrepreneurs and other beneficiaries in the state, while boosting economic activities and access to institutional finance in Tripura.