Odisha Pushes Banks for Faster Credit Growth, Branch Expansion in Unbanked GPs
Bhubaneswar: The 182nd State Level Bankers’ Committee (SLBC) meeting in Odisha emphasised accelerating credit growth and expanding banking services to unbanked Gram Panchayats (GPs) in line with the Vikshit Odisha Vision 2036 & 2047.
Development Commissioner Deoranjan Kumar Singh urged banks to intensify efforts to meet Annual Credit Plan (ACP) targets and improve the Credit-Deposit (CD) ratio.
The state government announced rent-free accommodation for banks opening branches in unbanked GPs, aiming to strengthen financial inclusion.
Banks achieved Rs 1,73,662.58 crore in priority sector lending against a target of Rs 2,52,095.66 crore, with officials stressing the need to bridge the gap before year-end.
The meeting also highlighted the importance of using Central KYC (CKYC) records to streamline processes and reduce duplication.
The Reserve Bank of India directed banks to refund unclaimed deposits and DEA Fund amounts to the state Finance Department by March 31, 2026.
Special focus was placed on MSMEs, agriculture, fisheries, and allied sectors, with calls for greater credit flow under schemes such as PMEGP, PM SVANidhi 2.0, and PM Surya Ghar Muft Bijli Yojana.
Banks were urged to ensure timely loan processing under flagship programs, avoiding delays or pending cases.
Senior officials from the Odisha government, RBI, NABARD, and heads of commercial banks participated in the meeting, reinforcing the state’s commitment to inclusive financial growth.
