Bhubaneswar: To increase credit flow in priority sector, Chief Minister’s Award for Best Performing Banks in Priority Sector Lending is institutionalised in the State.
The Chief Minister’s Awards is given to banks each year in the following three categories: (i) Champion Banks for the cause of Farmers. (ii) Champion Banks for the cause of Small Entrepreneurs. (iii) Champion Banks for the cause of Women SHGs.
Cash award of Rs. 5.00 lakh, Rs. 3.00 lakh and Rs. 2.00 lakh are given to the first, second and third best performing banks respectively in each of the three sectors every year.
The award is open to all public sector and private sector banks as well as cooperative and small finance banks operating in the State. The award is decided on the basis of some objective criteria, such as, number of beneficiaries covered, amount of credit advanced, amount of interest subvention etc.
CM’s award to the Best Performing Banks in Priority Sector Lending is the First of its kind in the country where bank branches are awarded from Flon’ble CM for their remarkable contribution to priority sector lending. It Is the unique initiative of our Govt, to incentivise banks to boost credit flow to priority sector.
Chief Minister Naveen Patnaik had presented the CM’s Award to the 9 Champion banks in Priority Sector Lending for FY 2020-21 on 25.05.2022 in a State Level Meeting organized by Finance Department.
Besides three other banks were given Certificate of Appreciation for Overall Priority Sector Lending, Maximum Quantum of Credit and Highest lending to Women SHGs for the year 2021-22.
The Finance Department had also issued Appreciation Certificate to 270 bank branches ‘1st, 2nci and 3rd position) under 3 categories of 30 districts for FY 2020-21.
Out of 5,555 branches, 4,624 branches (around 83% of branches) participated in the CM Award for 2020-21.
The CD ratio of the State has been improved to 76.85% as on 30th September, 2022 which is above the National Average.
There is substantial improvement in credit disbursement in priority sector over the last three years. The State for the first time surpassed Achievement under Annual Credit Plan above Rs. 1 lakh crore during 2021-22.
