NABARD Estimates Credit Potential Of Odisha At Rs 1,34,665 Cr For 2022-23

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Bhubaneswar: NABARD conducted the State Credit Seminar for 2022-23 on 11 January 2022, in which the State Focus Paper for Odisha was released, projecting an overall credit potential under Priority Sector at Rs.1,34,665crore for the year 2022-23.

The seminar was inaugurated by Odisha Finance Minister Niranjan Pujari, and attended by Development Commissioner-cum-Additional Chief Secretary PK Jena, Agriculture Production Commissioner Sanjeev Chopra, IAS Vishal Kumar Dev, Principal Secretary, Finance, R Raghu Prasad IFS, Secretary Animal Husbandry and Fisheries, HN Panda, Regional Director, RBI; Arupananda Jena Convenor, SLBC; controlling Heads of Banks other dignitaries from banking and State Govt. depts.   Further, all the District Collectors, Lead District Managers and NABARD District Development Managers were connected virtually in the seminar.

Welcoming the dignitaries NABARD CGM C Udayabhaskar said that concerted efforts need to be made for achieving the set targets for the current year and increasing the credit flow to the priority sector. He said that NABARD has been increasing their support for infrastructure development, tribal development, watershed development and micro-entrepreneur development among SHG women and will increase the developmental activities in the state.

Inaugurating the seminar, Odisha Finance Minister Niranjan Pujari and the Chief Guest on this occasion, congratulated NABARD for completing the Credit planning exercise and emphasized the need for increasing the Bank credit for the Priority sector in Odisha as Govt has been pushing a lot of support through various schemes like Balaram, Kalia, Samrudhi, Millet Mission, FPos etc and its time for Banks to increase the credit flow for private capital formation substantially. Activities such as Animal Husbandry, Poultry, Fisheries etc., leading to asset formation and diversification of the income basket of farmers need to be credit linked. Govt has been untiringly developing the enabling infrastructure in the state for effective growth in the agriculture sector and Banks have to push the credit for the economic benefits to percolate to the farmers.

Earlier in the meeting Arupananda Jena Convenor, SLBC indicated that by the end of the current financial year Banks have to achieve the set target of Rs.1.10 lakh crore and the current performance as of the end of Sep 2021 is not very encouraging.

Regional Director RBI Panda spoke about the historical reasons for the low bank credit in Odisha and asked Banks to be aspirational as Odisha is a growing and aspirational state and should be having the highest CD ratio in the eastern region of the country. He said Banks may support the IT sector to boost the credit flow and suggested that the CD ratio need to be at least 75% for all districts.

Secretary AH & Fisheries expressed happiness that Banks have been very positive in providing credit to the allied sectors such as dairy, goatery, fisheries etc and said that there is tremendous potential for inland fisheries in the state and Banks have to aggressively push the credit flow to the allied sectors. He also suggested that for the year 2022-23 the outlay for the Allied sector has been much more than the projection. Further, he suggested that specific training in allied activities financing is essential for the young bank officers.

Vishal Kumar Dev IAS Principal Secretary Finance said that the credit flow from Banks to the priority sector in Odisha needs a lot of urgent improvement and attention. He said that the state economy could withstand the negative impact of covid and proved its resilience. He indicated that a five-year long term planning exercise has been commenced for the structured development of the state. He called for the removal of rural and urban disparity among the districts in terms of extending financial services and paving way for sustained development. He asked all Banks to achieve the set targets and increase the bar.

Sanjeev Chopra APC asked the Bankers and line departments to introspect, revisit the strategies required for upscaling the credit flow and for removing the operational impediments in the growth of credit to the priority sector. BALARAM needs total relook and positive support from Banks.

Development Commissioner cum ACS said that Odisha has been growing faster and better and Banks have to improve the quality of lending. He advised all District collectors who are Heads of DCC that all efforts have to be put to achieve the current year targets. He said demand needs to be created at the grassroots level and KCC need to be broad-based to support allied activities. He also said that start-ups also need credit and Banks have to come forward.

FPO Abhiyan for strengthening the FPOs, Sanitation Campaign Phase II for spreading the usage of toilets, building new toilets etc were launched apart from Digital Media tools on Financial Inclusion developed by NABARD.

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