THEBUSINESSBYTES
BUREAU
BHUBANESWAR,
SEPTEMBER 5, 2026
Odisha is poised to
emerge as a leading economic hub and a beacon of inclusive growth in Eastern
India by leveraging its rich mineral resources, vast coastline, skilled
workforce and growing investor interest, Development
Commissioner-cum-Additional Chief Secretary D K Singh said on Saturday.
Addressing the 184th
State Level Bankers’ Committee (SLBC) meeting here, Singh urged banks to work
in close coordination with the state government and district administrations to
realise the vision of Samruddha Odisha
2036 and Viksit Bharat 2047, with
a focus on balanced and inclusive economic growth.
The meeting, held at a
private city hotel to review the performance of the banking sector up to June
2026, also reviewed the progress of various banking and government-led
initiatives and discussed the targets set under the Annual Credit Plan for
2026-27.
Singh said Odisha, a
major producer of iron ore, chromite and bauxite, was focusing on value
addition to its mineral resources to strengthen the state’s economic base. The
state’s 575-km coastline, he said, offered immense opportunities for tourism,
port-led growth and industrial development.
The Development
Commissioner said the state was also laying strong emphasis on developing its
young population into a skilled and productive workforce through skill
development programmes across sectors.
“Several national and international
institutions are showing keen interest in investing in Odisha,” he said, adding
that the state was preparing to emerge as a leading economic hub in Eastern
India in the coming years.
The meeting held
detailed deliberations on the implementation of several flagship financial
inclusion and livelihood schemes, including Pradhan Mantri Jeevan Jyoti Bima
Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jan Dhan Yojana,
Atal Pension Yojana, Pradhan Mantri Fasal Bima Yojana, PM Surya Ghar–Muft Bijli
Yojana, PM Employment Generation Programme, PMFME and Mukhyamantri Krushi Udyog
Yojana.
Particular emphasis
was placed on strengthening credit support for women entrepreneurs and facilitating
their transition from Self-Help Groups (SHGs) to Small and Medium Enterprises
(SMEs).
The meeting noted
that women’s empowerment had emerged as an important identity of Odisha at the
national level, with the significant rise in the number of Lakhpati Didis being
highlighted as a major achievement in the state’s economic development.
Principal Secretary,
Finance Department, Sanjeeb Kumar Mishra underscored the critical role of banks
in the effective implementation of major welfare schemes of the Centre and the
state government.
Detailed discussions
were also held on the Annual Credit Plan for 2026-27, particularly with regard
to agriculture and allied activities, micro, small and medium enterprises
(MSMEs) and other priority sectors.
Joint Secretary,
Department of Financial Services, Government of India, Shalini Pandit stressed
the need to improve Odisha’s Credit-Deposit (CD) ratio and bring it at par with
the national average. She also appreciated the successful implementation of the
Atal Pension Yojana in the state.
Banks were advised to take concerted measures to expand the banking network and improve access to banking services, particularly in rural areas. They were also asked to take necessary steps to refund amounts lying in Depositor Education and Awareness Fund (DEAF) accounts to the concerned individuals and government offices.
Regional Director of the Reserve Bank of India, Secretaries of the Agriculture and Farmers’ Empowerment, Women and Child Development, MSME and Mission Shakti departments, Directors and senior officials of various departments, Executive Director of UCO Bank, Convener of SLBC, Chief General Manager of NABARD and state controlling heads of banks were among those present at the meeting.
