THEBUSINESSBYTES
BUREAU
BHUBANESWAR,
FEBRUARY 6, 2026
Reinforcing
Odisha’s push towards inclusive and sustainable economic growth, the 7th
State-Level Financial Inclusion Conclave brought the spotlight on the
transformative role of microfinance institutions in empowering women and
deepening last-mile financial access across the state. Held at a city hotel in
Bhubaneswar, the conclave witnessed the participation of more than 500 women
Self-Help Group (SHG) members from 30 districts, alongside policymakers,
bankers, development institutions and industry leaders.
Speakers
at the conclave underlined how microfinance institutions have emerged as
critical enablers of women entrepreneurship in remote and underserved regions
of Odisha. Beyond providing access to credit, these institutions have
significantly contributed to financial and digital literacy, social security
coverage and delivery of essential services, thereby strengthening the
grassroots economy.
The
conclave was inaugurated by Sarada Prasanna Mohanty, Regional Director, Reserve
Bank of India, who lauded the sustained efforts of microfinance institutions in
advancing financial inclusion across the state. Addressing SHG women, he
emphasised the importance of responsible borrowing aligned with actual needs
and repayment capacity, while also underscoring the value of timely loan
repayment in building a robust and sustainable credit ecosystem.
Chairing
the conclave, Dibyajyoti Pattnaik, President of OSAFII, highlighted the
sector’s growing economic footprint in Odisha. He noted that microfinance
institutions have extended financial support of nearly Rs 18,000 crore to women
SHG and JLG members for income-generating activities such as small businesses,
household enterprises, water and sanitation projects, and housing construction.
He also pointed out that the sector has created employment opportunities for
over 15,000 youth in the state. Shri Pattnaik reaffirmed OSAFII’s commitment to
expanding enterprise development initiatives to accelerate Odisha’s overall
socio-economic development.
Adding to this, Narendra Nayak, CEO, OSAFII, said the organisation has been actively promoting financial inclusion programmes in collaboration with government and private institutions, banks, the Reserve Bank of India, SIDBI, NABARD and several other stakeholders operating in Odisha.
The conclave saw wide participation from eminent dignitaries including Michael Schlein of ACCIOM, representatives from Mission Shakti, State Bank of India, SIDBI, Sa-Dhan, UNDP, ESAF Small Finance Bank, CreditAccess Grameen, leading insurers, academia and cyber security experts, along with OSAFII board members. Deliberations focused on financial inclusion, women-led entrepreneurship, digital empowerment and emerging challenges, reaffirming microfinance as a key driver of inclusive growth in Odisha.
