The Reserve Bank of India (RBI) has opened a sub-office in Itanagar, Arunachal Pradesh, to promote financial inclusion and development in the region. This is a significant move, as it marks the central bank’s presence in all seven states of the northeastern region of India.
The sub-office is equipped with specialized departments and cells that will cater to the unique financial and developmental needs of the region. These units include the Financial Inclusion and Development Department (FIDD), the Human Resource Management Department (HRMD), the Consumer Education and Protection Cell (CEPC), and the Market Intelligence Cell (MIC).
The FIDD will work to address financial inclusion challenges specific to Arunachal Pradesh. The HRMD will nurture local talent and foster employment opportunities in the region. The CEPC will educate and safeguard the rights of consumers in the region. The MIC will monitor and assess the financial landscape in Arunachal Pradesh, providing valuable insights to RBI.
The inauguration of the sub-office in Itanagar underscores the RBI’s dedication to promoting financial stability, economic development, and financial inclusion across the entire northeast. It is a positive step for the region and its people.