BHUBANESWAR : The state government on Monday highlighted the need for accelerated momentum in credit flow to priority sectors like agriculture, MSME, housing, education and exports in alignment with the goals of Viksit Odisha by 2036 contributing substantially to Viksit Bharat by 2047.
Addressing the 177th State-level Bankers’ Committee (SLBC) meeting here, development commissioner Anu Garg emphasised on minimising the regional imbalance in terms of credit flow to all segments of the society including women, SC, ST and physically-challenged people.
Garg urged the bankers to provide timely and adequate loans to viable proposals to reduce non productive asset (NPA) in the banking sector. She also laid stress on ease of banking services to encourage common people to approach the banks instead of going to unregulated entities for meeting their financial needs.
She called upon all banking heads of the state to extend higher quantum of credit to improve the credit-to-gross state domestic product (GSDP) ratio of the state on par with national level.
While praising RBI’s proactive initiatives to promote financial literacy, she also advised for awareness campaigns and process re-engineering for simplified loan approvals.
Executive director of UCO Bank VN Kamble thanked bankers for achieving 49.34 per cent of annual credit plan (ACP) target as on September 30 and urged them to put concerted efforts to achieve 100 per cent ACP of `2.11 lakh crore for 2024-25.
RBI regional director Sarada Prasan Mohanty advised all banks to seek minimum documents for sanction of loans in a time-bound manner.
Principal secretary of Finance Saswat Mishra, chief general manager of SBI Dinesh Purthi, SLBC convenor Gautam Patra, senior officials of state and central governments, NABARD and regional controlling heads of all commercial banks were also present in the meeting.