14th December 2017, Gasa:
Gasa dzongkhag is honoured to be the 1st Dzongkhag to be visited by the “Financial Literacy Program” team led by the Hon’ble Governor of RMA, after the launch of the “Guidelines on Priority Sector Lending” yesterday in Semtokha Dzong. Dasho Governor briefed the Gups, Mangmis, people representatives, sector heads, financial institutes on the various topics to enhance financial literacy and the Priority Sector Lending which will come into effect from 1st January 2017. These are innovative financial initiatives towards realizing the Royal aspiration of transforming our country into a “just, harmonious and equal”
Dzongda in welcoming the team, mentioned that, since the sacred Royal Address at the 2016 National Day Celebration in Trongsa, the RMA has gone all out in trying to address challenges of access to finances/credit by different sectors of our population specially the farmers and other vulnerable groups. In this regard, RMA has completed Financial Literacy Program in 15 Dzongkhags,
convened the successful Bhutan Economic Forum for Innovative Transformation (BEFIT) the International Financial Inclusion Summit early this year and launched the guidelines on “Priority Sector Lending”.
Priority Sector Lending basically mandates all financial institutes/banks to lend to agriculture/non-agriculture/CSI ventures at 8% to 8.5% interest rates, no collateral, no guarantee and insurance based loans. This novel facility opens up credit opportunities to those otherwise excluded in the past. Therefore, this is a FINANCIAL REVOLUTION that will pave the way for the much needed entrepreneurial transformation leading to “just, equal and harmonious society with a successful democracy” – an aspiration emanating from the Golden Throne.
Dzongkhag also expressed appreciation and gratitude to Dasho Governor and his team at RMA and other partners for the outstanding achievement and valuable contribution to the Nation Building within such s short span of time .....
Let us all be that selfless warrior in this noble financial inclusion revolution .......