THEBUSINESSBYTES
BUREAU
BHUBANESWAR,
MARCH 10, 2026
Calling for stronger
banking support to drive economic expansion in the State, Development
Commissioner-cum-Additional Chief Secretary Deoranjan Kumar Singh on Tuesday
urged banks to actively facilitate the investment process and accelerate credit
growth across Odisha. He also advised banks to expand their presence in unbanked
Gram Panchayats, noting that the State Government is offering rent-free
accommodation to encourage the establishment of new banking outlets. Singh
further emphasised the need for enhanced lending to the Education and Housing
sectors to support inclusive development and human capital formation.
The observations were
made during the 182nd State Level Bankers’ Committee (SLBC) Meeting of Odisha
for the quarter ended December 2025, which was convened on March 10, 2026 at
Hotel Mayfair in Bhubaneswar. The meeting brought together senior officials
from the State and Central Governments, representatives of major financial
institutions, and banking leaders to review credit performance and discuss
strategies to strengthen financial inclusion and sectoral lending in the State.
Addressing the
meeting, Managing Director and Chief Executive Officer of UCO Bank and Chairman
of SLBC Odisha, Ashwani Kumar, informed that banks in the State have achieved
priority sector lending of ₹1,73,662.58
crore against the annual target of ₹2,52,095.66 crore. He
urged all banks to intensify their efforts and ensure that the individual
targets are achieved by the end of the current financial year.
Principal Secretary
of the Finance Department, Government of Odisha, Sanjeeb Kumar Mishra, highlighted
the importance of strengthening financial systems and improving efficiency
within the banking sector. He stressed the need for greater inter-usability of
the Central Know Your Customer (CKYC) system, improvement in Annual Credit Plan
(ACP) achievements, and enhancement of the State’s Credit-Deposit (CD) ratio to
support balanced financial growth.
Regional Director of
the Reserve Bank of India in Bhubaneswar, Sarada Prasan Mohanty, advised banks
to refund unclaimed or Depositor Education and Awareness Fund (DEAF) related
State Government deposits to the Finance Department by March 31, 2026, ensuring
greater financial transparency and compliance with regulatory guidelines.
Commissioner-cum-Secretary
of the MSME Department, Rashmita Panda, called upon banks to extend greater
credit support under key government initiatives such as the Prime Minister’s
Employment Generation Programme (PMEGP) and the Prime Minister Street Vendor’s
AtmaNirbhar Nidhi (PM SVANidhi) scheme, which are aimed at strengthening
micro-enterprises and promoting self-employment.
Similarly,
Commissioner-cum-Secretary of the Fisheries and Animal Resources Development (F
& ARD) Department, Prem Chandra Chaudhary, emphasised the importance of
providing adequate credit support to the agriculture and allied sectors,
highlighting their crucial role in strengthening rural livelihoods and
sustaining the State’s agrarian economy.
The meeting was also
attended by the Convenor of SLBC Odisha, senior officials of the State and
Central Governments, representatives of NABARD, and Regional Controlling Heads
of various banks operating in the State, who collectively reviewed sectoral
progress and discussed measures to further deepen banking outreach and credit
penetration across Odisha.
