Odisha Sets Rs. 2.52 Lakh Crore Credit Target as 179th SLBC Meeting Stresses Financial Inclusion and Support for Farmers

Bhubaneswar: The 179th State Level Bankers’ Committee (SLBC) meeting, along with a special session on Financial Inclusion and Financial Literacy, was held today in Bhubaneswar, with a renewed focus on achieving the ambitious Annual Credit Plan (ACP) target of ₹2.52 lakh crore for the financial year 2025–26.

Anu Garg, Development Commissioner-cum-Additional Chief Secretary, in her opening address, underscored the critical role of credit flow in propelling Odisha’s development as the state moves toward Vision 2036. Calling for timely and adequate credit disbursal across all regions and social categories, she particularly emphasized outreach to women, Scheduled Castes, Scheduled Tribes, and weaker sections.

She urged the banking sector to extend full support to the recently launched “Financial Assistance to Cold Storage” scheme, which aims to minimize post-harvest losses and prevent distress sales by farmers. The scheme initially targets all 58 sub-divisions of the state, laying the groundwork for a stronger rural storage ecosystem.

V.N. Kamble, Executive Director of UCO Bank, commended the banking community for achieving 100% of the agriculture sector target under the ACP. However, he flagged underperformance in the MSME sector, urging banks to address gaps in lending to small businesses and entrepreneurs.

Principal Secretary of the Agriculture and Farmers’ Empowerment Department, Dr. Arabinda Kumar Padhee, praised the enthusiastic response of banks to the Cold Storage Financing scheme and called on financial institutions to continue supporting entrepreneurship in agriculture and allied sectors.

Highlighting another crucial area, Principal Secretary of the Finance Department, Saswata Mishra, pressed private sector banks to improve participation in government-sponsored schemes such as PMEGP, PMFME, and PM SVANidhi. He also stressed the need for the timely settlement of claims under social security schemes like PM Jeevan Jyoti Bima Yojana (PMJJBY) and PM Suraksha Bima Yojana (PMSBY).

Dr. Sarada Prasan Mohanty, Regional Director, Reserve Bank of India (RBI), Bhubaneswar, lauded the proactive approach of Lead District Managers (LDMs) for organizing Town Hall meetings to directly address the concerns of MSME entrepreneurs at the district level.

The meeting was also attended by Usha Padhee, Principal Secretary, Commerce & Transport Department; Shri Suresh Kumar Vashishth, Principal Secretary, Fisheries & Animal Resources Development Department; senior officials from the State and Central governments, NABARD, RBI, and Regional Controlling Heads of all banks operating in Odisha.