Chief Minister’s award for Best Performing Banks in priority sector lending for 2021-22

Bhubaneswar: Chief Minister Naveen Patnaik today said that credit to Agriculture, MSME, and Mission Shakti groups is a pre-requisite for building a strong economy. He expressed this while giving cash awards to Champion Banks for providing credit to these core sectors.

A function was organised at the Convention Centre in Loka Seva Bhawan here for awarding the best-performing banks in providing credit to the core sectors.

Speaking on the occasion, the CM said, “I attach utmost priority to the three fundamental pillars of our economy- Agriculture, MSMEs and Mission Shakti Groups. Budgetary provisions for these sectors have been substantially increased and we are also providing Interest Subvention to reduce the interest burden on the people.”

The CM further said that adequate availability of credit to core sectors like Agriculture, Allied Sectors, MSMEs, and Women SHGs is a pre-requisite to building up an economy with a strong foundation.

Underlining the importance of women’s self-help groups, the CM said that Mission Shakti groups of the State have immensely contributed towards strengthening the rural economy. The Government is providing them interest subvention up to Rs 5 lakh loan. Through Mission Shakti Scooter Yojana, they are now empowered to market their products and expand their business. Bankers need to complement our efforts to help them get transformed into SMEs.

Patnaik urged all banks to come forward for this noble cause.

The CM congratulated all the award-winning banks and hoped that these banks would be an inspiration for other banks for the enhancement of credit disbursement to these priority sectors.

The CM informed that for the current financial year, the State has fixed an ambitious Annual Credit Plan target of Rs 1.60 Lakh Crore. He expressed confidence that all districts and banks will work closely to achieve the ACP target and fulfill the aspirations of the people of my State.

Saying that Odisha has created a new milestone by achieving a 100 percent target under the Annual Credit Plan of Rs 1 Lakh 35 Thousand Crore for the first time in the Financial Year 2022-23, he urged the banks to continue this momentum.

Speaking on the occasion, Finance Minister Bikram Keshari Arukha said that the State’s economy has grown faster than the national economy during the last 10 years. Credits to our core sector are an essential policy direction of our Government to spruce up the economy. He said that besides the CM’s award, the Finance Department will also issue Appreciation Certificates to 270 bank branches for their good performance under the 3 categories of priority sector lending.

Champion Banks for these three core sectors received Rs 5 lakh for the first prize, Rs 3 lakh for the second prize, and Rs 2 lakh for the third prize.

In the farm sector lending, the SBI Jaipatna ADB branch in Kalahandi received the first prize,  Axis Bank in Berhampur branch received the second prize, and SBI in Semiliguda branch of Koraput received the third prize.

For MSME lending, the Bank of India, Jayadev Vihar Branch, Khurda received the first prize, PNB Balasore branch received the second prize and UCO Bank Jeypore branch received the third prize.

For lending to Women SHGs, UCO Bank Bhogarai of Balasore received the first prize, SBI Salepur ADB Cuttack received the second prize and SBI Sadheipalli Sundargarh received the third prize.

Besides as the best-performing banks, the following banks were felicitated by the Chief Minister for the year 2022-23. Odisha State Cooperative Bank for Agriculture, SBI for MSME, and Odisha Gramya Bank for Women SHGs were felicitated.

Similarly, for the year 2021-22, Khurda for Agriculture, Cuttack for MSME, and Balasore for WSHGs were felicitated as Best Performing Districts.