Bhubaneswar: Chief Minister Shri Naveen Patnaik emphasized the pivotal role of credit in fostering a robust economy, specifically acknowledging Agriculture, MSMEs, and Mission Shakti Groups as integral components. During a ceremony at the Convention Centre in Loka Seva Bhawan, he bestowed cash awards upon exemplary banks that excelled in extending credit to these vital sectors.
Addressing the gathering, the CM underscored the significance of Agriculture, MSMEs, and Mission Shakti Groups as the three fundamental pillars of the state’s economy. He highlighted the substantial increase in budgetary allocations for these sectors and the provision of Interest Subvention to alleviate the interest burden on the populace.
The CM stressed that ensuring sufficient credit availability to core sectors such as Agriculture, Allied Sectors, MSMEs, and Women SHGs is imperative for establishing a resilient economic foundation. Recognizing the invaluable contribution of women self-help groups, particularly Mission Shakti Groups, in fortifying the rural economy, he lauded the government’s initiatives, including interest subvention for loans up to Rs. 5 lakh and the Mission Shakti Scooter Yojana, empowering them to market products and expand businesses. He urged banks to support this transformation of women’s groups into SMEs.
Commending the award-winning banks, the CM expressed hope that their success would inspire other financial institutions to increase credit disbursement to these priority sectors. He disclosed an ambitious Annual Credit Plan target of Rs 1.60 Lakh Crore for the current financial year, urging all districts and banks to collaborate closely to achieve this goal and fulfill the aspirations of the state’s residents.
Highlighting Odisha’s achievement in reaching 100 percent of the Annual Credit Plan target of Rs. 1 Lakh 35 Thousand Crore in the Financial Year 2022-23, the CM encouraged banks to sustain this momentum. Finance Minister Shri Bikram Keshari Arukha remarked on the state’s economic growth surpassing the national average over the last decade, attributing credit to the core sector as a crucial policy direction.
Besides the CM’s awards, the Finance Department will issue Appreciation Certificates to 270 bank branches for outstanding performance in priority sector lending. Leading Banks for the core sectors were awarded cash prizes, with distinctions in farm sector lending going to SBI Jaipatna ADB branch Kalahandi, Axis Bank Berhampur branch, and SBI Semiliguda branch Koraput. Similarly, Bank of India Jayadev Vihar Branch Khurda, PNB Balasore branch, and UCO Bank Jaypore branch were recognized for MSME lending, while UCO Bank Bhogarai Balasore, SBI Salepur ADB Cuttack, and SBI Sadheipalli Sundergarh excelled in lending to Women SHGs.
In addition to felicitating the best-performing banks, the CM acknowledged the Odisha State Cooperative Bank for agriculture, SBI for MSME, and Odisha Gramya Bank for Women SHGs for their outstanding contributions in the year 2022-23. Notably, Khurda, Cuttack, and Balasore received accolades as the Best Performing Districts for the year 2021-22 in agriculture, MSME, and Women SHGs, respectively. The event, graced by dignitaries including Principal Secretary Finance Shri Vishal Dev and various department heads, concluded with a vote of thanks by Director Institutional Finance Pragyanasmita Sahoo.