BHUBANESWAR: With the current financial year coming to an end, the state government on Thursday urged bankers to meet the annual credit plan (ACP) target of Rs 2.10 lakh crore while minimising regional imbalances in credit flow to all segments of society.
Addressing the 178th meeting of the state-level bankers’ committee (SLBC), development commissioner Anu Garg emphasised the need for adequate credit flow to housing, education and export sectors. Key priorities include increasing agricultural loan ticket size and improving credit access for SC and ST entrepreneurs under the Stand-Up India scheme, she said.
According to SLBC, all commercial banks operating in the state have achieved credit lending of over Rs 1.45 lakh crore which is 68.95 per cent of the annual credit plan target of Rs 2.10 lakh crore comprising 75.38 per cent under agriculture and 73.48 per cent under MSME.
Garg urged banks to support the newly-launched ‘Financial Assistance to Cold Storage’ scheme. This initiative aims to reduce post-harvest losses and prevent distress sales by farmers. The state government has planned to set up at least one cold storage in each of the 58 sub-divisions under this initiative which will significantly boost infrastructure and modernise the agricultural supply chain.
She also encouraged banks to extend higher quantum of credit to improve the credit to GSDP ratio of the state. A target of Rs 2.52 lakh crore ACP for 2025-26 has been made based on the projections made by NABARD.
Principal secretary, Finance, Saswat Mishra shared insights on various aspects of the ACP and government-sponsored schemes, emphasising the need for greater focus on tribal and aspirational districts to ensure inclusive development.
Executive director of UCO Bank-cum-SLBC chairman, Odisha Vijaykumar Nivrutti Kamble said credit to deposit (CD) ratio stands at 75.44 per cent as on December 31, 2024. He said banks in the state have fully achieved targets under PMJDY, PMJJBY, PMSBY and 98.09 per cent under APY target as on February 19, 2025.
Principal secretary, Agriculture and Farmers’ Empowerment, Arabinda Padhee and regional director, RBI, Bhubaneswar Sarada Prasan Mohanty also spoke.