State Level Bankers Committee Sets Ambitious Credit Targets for Odisha’s Growth

Bhubaneswar: The 175th and 176th State Level Bankers Committee (SLBC) meetings were held today, where Odisha’s banking sector was lauded for surpassing its annual credit plan target. The meeting, chaired by Additional Chief Secretary and Development Commissioner Anu Garg, highlighted the banks’ achievement of Rs 1,65,621 crore against the annual credit plan (ACP) target of Rs 1,60,280 crore for the financial year 2023-24, reflecting a performance of 103.33 percent.

Garg commended the banks for their remarkable performance and urged them to continue their efforts in the current financial year. She set a new annual credit plan target of Rs 2,10,546 crore for 2024-25, encouraging the banks to meet this ambitious goal.

With the approach of Odisha’s 100th anniversary as a separate state in 2036, Garg emphasized the state’s long-term vision of becoming a financial powerhouse. “The government is implementing numerous ambitious plans with the goal of positioning Odisha as a leading financial power by its centenary year,” she said. She also noted the critical role banks will play in driving the state’s economic development through the successful implementation of these plans.

Principal Secretary Saswat Mishra emphasized the importance of supporting government-sponsored schemes. He advised banks to prioritize these schemes and expedite the sanctioning of applications, ensuring that more people benefit from the initiatives designed to uplift various sectors of society.

The meeting was attended by key financial figures, including NABARD Chief General Manager Sudhanshu K.K. Mishra, Regional Director of the Reserve Bank of India Sarada Prasanna Mohanty, Executive Director of UCO Bank Vijay Kumar Nibruti Kamble, and Chief General Manager Gautam Patra, alongside representatives from all public and private banks operating in the state.