Bhubaneswar: Banks in Odisha have achieved Rs 1.20 lakh crore, or 47.65%, of their Rs 2.52 lakh crore Annual Credit Plan (ACP) target for FY 2025–26, according to the 181st State Level Bankers’ Committee (SLBC) meeting held here on Monday at Hotel Mayfair in Bhubaneswar.
The meeting, chaired by Rajendra Kumar Saboo, Executive Director of UCO Bank and Chairman of SLBC Odisha, reviewed the progress of ACP and discussed key initiatives for improving credit flow, MSME financing, and financial inclusion across the State.
Outlining Odisha’s long-term developmental goals under ‘Vision 2036 and Vision 2047’, Principal Secretary, Finance Department, Sanjeeb Kumar Mishra, urged banks to accelerate ACP achievement and improve the State’s Credit–Deposit (CD) ratio. He emphasised the adoption of CKYC by all banks and called for greater public awareness on Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY), particularly on claim-filing procedures for beneficiaries.
Dr. Sarada Prasan Mohanty, Regional Director of RBI Bhubaneswar, highlighted the importance of achieving ACP targets for the overall development of the State. He stressed strengthening cyber security, preventing digital fraud, and resolving issues related to unclaimed deposits and KYC compliance.
The meeting also focused on financing the MSME sector, with Commissioner-cum-Secretary, MSME Department, Prasanth Kumar Reddy, urging banks to follow revised norms for MSME, PMEGP, PMFME, PMMY, the Stand-Up India Scheme, and the PM-Vishwakarma Scheme.
Director of Industries, Aboli Sunil Naravane, highlighted the importance of PMEGP and PMFME schemes in promoting entrepreneurship and local employment.
Performance under PMSVANidhi was reviewed, and it was decided that individual bank branches should strive to meet their respective targets to ensure wider coverage of the scheme.
The meeting was attended by the SLBC convenor, senior officials of the State and Central governments, NABARD, and Regional Controlling Heads of various banks.
