Bhubaneswar: The Odisha government has buckled up to achieve its aim of improving banking penetration across the State with its financial inclusion scheme while including beneficiaries from every corner of the state. Efforts are on to provide banking services across all panchayats.
On Thursday, during the 172nd State-level Bankers Committee meeting in Bhubaneswar, Finance Minister Bikram Keshari Arukha chaired as the chief guest and shared that in the agriculture and MSME sectors, the annual loan scheme has achieved stupendous success. However, he urged the banks to take the initiative to provide loans to important public sectors like Education and Housing.
While in 2022-23, the ‘Annual Loan Scheme’ was set at Rs 1.34 lakh crore, it was increased by 19.02 per cent in the year 2023-24. Similar to the previous year, banks need to make high efforts to achieve a 100 per cent target under the ‘annual loan scheme,’ stressed Arukha.
The government aims to provide loans and other banking services seamlessly to people residing in around 65 percent of unbanked panchayats in association with six public sector banks by setting up customer service point-plus (CSP plus) outlets under the new scheme.
At the meeting, the Development Commissioner and Additional Chief Secretary Anu Garg expressed her content over the increase of credit-deposit ratio (CD ratio) by 81.42 per cent of banks by June 30. She also advised the banks to provide loans to preferential sectors. Furthermore, she also advised to focus on setting up banks in areas without permanent banks, the ‘Mission Shakti Scooter’ scheme, the ‘Mo Ghara’ scheme, education loans, etc. to achieve success in five major schemes of the government.
Finance Department Principal Secretary Vishal Kumar Dev also congratulated the banks for their success and asked the financial institutions to actively participate in different social welfare programmes of the current year and provide loans. Further, he advised the banks to provide loans in an easier and more substantial way to ensure the State’s financial growth.
UCO Bank’s General Manager and State-wide Banker’s Committee convenor Gautam Patra welcomed everyone to the meeting. Dr Aravinda Kumar Padhi, Principal Secretary, Agriculture & Farmers’ Empowerment Department, Saswat Mishra, Principal Secretary, MSME and SK Lohani, Principal Secretary, Panchayati Raj & Drinking Water Department, were among others present at the meeting.
