Bhubaneswar: The 177th State Level Bankers’ Committee (SLBC) meeting was held today in Bhubaneswar, co-chaired by Anu Garg, Development Commissioner-cum-Additional Chief Secretary (DC-cum-ACS) to the Government of Odisha, and V.N. Kamble, Executive Director of UCO Bank. The meeting brought together key banking officials, government representatives, and stakeholders to discuss the state’s financial progress and future goals.
In her address, Anu Garg emphasized the need to accelerate credit flow to priority sectors such as Agriculture, MSMEs, Housing, Education, and Exports, aligning with the goal of a Vikshit Odisha by 2036, contributing to a Vikshit Bharat by 2047. She highlighted the importance of addressing regional imbalances in credit distribution, particularly among marginalized groups such as women, SCs, STs, and physically challenged individuals.
Garg also urged banks to improve their credit offering to quality proposals in order to reduce the Non-Performing Assets (NPA) in the sector. She stressed the need for simplifying banking services to encourage the public to choose regulated banking channels over unregulated entities. Additionally, she called for a higher quantum of credit to improve the state’s Credit to Gross State Domestic Product (GSDP) ratio, aiming to bring it on par with the national level.
V.N. Kamble, Executive Director of UCO Bank, commended the banking sector for achieving 49.34% of the Annual Credit Plan (ACP) target as of September 30, 2024. He urged the bankers to increase their efforts to achieve the total target of Rs. 2.11 lakh crore for the financial year 2024-25.
Regional Director of RBI, Dinesh Purthi, advised banks to request only the minimum required documents for loan sanctions, ensuring a time-bound process to expedite lending decisions.
Saswat Mishra, Principal Secretary, Finance, urged private sector banks to enhance their participation in government-sponsored schemes such as PMEGP, PM Mudra, Stand Up India, and PM SVANidhi. He also requested the SLBC convenor to provide claim settlement statistics for social security schemes like PMJJBY and PMSBY.
The meeting was attended by senior officials from the state and central governments, including the State Bank of India’s CGM Dinesh Purthi, and Sri Gautam Patra, the convenor of SLBC. Officials from NABARD and regional heads of various banks were also present.
The SLBC meeting underscored the state’s commitment to enhancing financial inclusion, promoting financial literacy, and ensuring that credit reaches all sectors of society in a timely manner. Through these discussions and initiatives, Odisha aims to continue its growth trajectory while ensuring that financial services are accessible to every segment of the population.
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