Odisha Finance Min Bikram Arukha urges banks to scale up credit for housing sector
Principal secretary of Finance department Vishal Kumar Dev urged the banks to provide loans liberally to the beneficiaries under various welfare schemes of the government.
BHUBANESWAR: Finance Minister Bikram Keshari Arukha on Thursday urged state heads of all commercial banks to focus more on providing housing and education loans to the poor and marginalised sections of the society.
Addressing the state-level bankers committee meeting here, Arukha said the performance of the banks in achieving the annual credit plan (ACP) in agriculture and MSME sectors is impressive which is not the case in housing finance and education loan.
Expressing concern over lack of permanent banking services in unbanked areas, the minister said nearly 65 per cent of the panchayats of the state have no brick and mortar branch. Though six bank branches have been sanctioned, he urged the bankers to open branches in the unbanked GPs.
While congratulating the banks for maintaining 81.44 per credit-deposit (CD) ratio as on June 30, 2023, Arukha advised all the banks to keep the momentum as done in the last financial year 2022-23 to achieve the ACP targets for 2023-24. He also advised the banks to improve the credit facilities to SHGs towards their movement to SME sector.
Development Commissioner Anu Garg highlighted the five priority areas of the state government which include banking the unbanked, Mission Shakti Scooter Yojana, CM-SRIM scheme for the MSMEs, Mo-Ghara scheme and education loan for the students. Principal secretary of Finance department Vishal Kumar Dev urged the banks to provide loans liberally to the beneficiaries under various welfare schemes of the government.
He said the banks have to play a more proactive role in the faster economic growth of the state. CGM, NABARD, Bhubaneswar Sudhansu K Mishra highlighted the importance of higher ticket loans to agriculture sector and financial support to FPOs.