Odisha CM asks banks to wholeheartedly support those dependent on bank credit | Bhubaneswar News


BHUBANESWAR: Emphasizing on credit linkage to the vulnerable sections of our society and economy –farmers, women and MSMEs, to tide over the pandemic, chief minister Naveen Patnaik on Tuesday asked banks to wholeheartedly support those dependent on bank credit.
As part of the efforts to bring back the society and economy to normalcy through adequate credit linkage, the state government will also award performing banks at the end of the financial year and also inform the Union finance ministry about their good performance, announced the chief minister at a virtual conference attended by representatives of various banks and district collectors.
“All our systems and organizations have no meaning if we cannot help our citizens when they need us the most. The farmers, Mission Shakti groups and MSMEs are our lakhs of entrepreneurs, who are asking for small credits so that they can stand on their feet. In fact, they will make our economy stand on its feet. We need to help them wholeheartedly,” said Naveen during a videoconference.
Expressing his satisfaction over the considerable progress in the last few weeks in credit disbursement, the chief minister asked the banks to keep the momentum till every single citizen asking for credit is taken care of.
Naveen asked the district collectors to closely follow up the credit distribution programme while he will again take stock of the programme in February.
As the MSMEs are considered as the backbone of the state’s economy and play significant role in employment, the chief minister said that the overall credit flows to MSMEs during this difficult economic situation is quite satisfactory. It was informed in the meeting that around 63 per cent of total credit target for MSME sector has been achieved so far while the State Bank of India has given maximum credit support to the MSMEs to the tune of Rs 7,250 crore.
The chief minister also stressed on credit linkage to farmers and members of women self-help group (SHGs) to revive the rural economy.
“Farmers have to face the vagaries of monsoons year on year. The least that we can do is to provide credit on time. The credit support to Mission Shakti groups is one of the top priorities of my government,” said the chief minister.
While congratulating some of the banks, who have performed well in credit distribution to the farmers, women and MSMES, the chief minister also asked banks with poor performance to improve and to achieve the targete as there are still three months to go in this financial year.



Source link
#Odisha #asks #banks #wholeheartedly #support #dependent #bank #credit #Bhubaneswar #News

Leave a Comment