Credit delivery sluggish; SLBC flags push needed in key sectors

Banks in Odisha have managed to achieve just 24.36% of the Annual Credit Plan (ACP) target for 2025-26 in the first quarter, raising concerns over sluggish credit flow.

- STATESMAN NEWS SERVICE BHUBANESWAR, 10 SEPTEMBER:

Against a plan outlay of ₹2,52,095.66 crore, disbursements stood at only ₹61,412.76 crore by June-end, according to data presented at the State Level Bankers' Committee (SLBC) meeting here on Wednesday.

Development Commissioner-cum-ACS Anu Garg urged banks to step up lending in housing, education, MSME, agriculture and allied sectors—areas seen as critical to Odisha's Vision 2036 and Vision 2047 roadmaps. "The Credit-to-GSDP ratio must improve, and banks cannot afford to let gaps in credit delivery persist, especially in backward and underperforming districts," she stated.

Garg directed partner banks including SBI, PNB, UBI, UCO Bank, Bank of India and Bank of Baroda to open CSP Plus outlets in every unbanked Gram Panchayat by 30 September, with strict monitoring of operations. She also instructed lenders to switch to Odia-language SMS alerts for customer communication, signalling a push for deeper financial inclusion.