Odisha Sets ₹2.52 Lakh Crore Credit Target to Boost Growth and Jobs

Bhubaneswar: The 180th State Level Bankers’ Committee (SLBC) meeting, co-chaired by Development Commissioner-cum-Additional Chief Secretary (DC-cum-ACS) Smt. Anu Garg and UCO Bank MD & CEO Ashwani Kumar, outlined ambitious plans to strengthen Odisha’s credit ecosystem in line with Vision 2036 and Vision 2047. 

Smt. Garg stressed the need to raise the Credit-to-GSDP ratio to fuel economic growth, urging banks to increase credit flow to MSMEs, housing, education, agriculture, and allied sectors. She also directed banks to send SMS alerts in Odia to improve accessibility and promote Central KYC (CKYC) compliance to streamline services and boost transparency.

Highlighting flagship schemes, she called on banks to expand support for Cold Storage projects, PM Surya Ghar Muft Bijli Yojana, PMSVANidhi, Mukhyamantri Krushi Udyog Yojana (MKUY), and Mudra Yojana, which are crucial for entrepreneurship and job creation.

Presenting the Annual Credit Plan, Ashwani Kumar announced a ₹2,52,095.66 crore target for 2025-26, with banks achieving 24.36% of this by June 30. RBI’s Regional Director Dr. Sarada Prasan Mohanty lauded Odisha’s top ranking in Re-KYC compliance but warned against rising cyber frauds, urging stricter monitoring of Money Mule Accounts.

To expand financial access, partner banks including SBI, PNB, UBI, UCO, BOI, and BOB were directed to set up Customer Service Point (CSP) Plus outlets in all unbanked Gram Panchayats by September 30.

Senior officials from key departments, NABARD, and bank representatives participated in the meeting, which concluded with a shared commitment to inclusive credit expansion and grassroots development.