Bhubaneswar: A major expansion of banking credit across Odisha is on the horizon following directives issued at the 183rd State Level Bankers Committee meeting for the quarter ended March 2026.
Held at the Hotel Taj Vivanta under the chairpersonship of Odisha Chief Secretary Anu Garg, the State Level Banker’s Committee(SLBC) Meeting focused heavily on accelerating credit flow across multiple sectors to foster balanced, sustainable, and inclusive economic growth throughout the state.
Principal Secretary Finance, Shri Sanjeeb Kumar Mishra, Joint Secretary Department of Financial Services, Ministry of Finance, Shrimati Shalini Pandit graced the meeting.
Addressing the forum, Chief Secretary Smt.Garg called for a strategic shift from red tape to a red carpet approach to ensure investor-friendly credit flow.
She stated that credit allocation across all sectors must align strictly with Odishas Vision Document, urging financial institutions to prioritize emerging fields such as tourism, agri-entrepreneurship, deep sea fishing, and food processing industries. The Chief Secretary also noted that the service sector needs to receive greater focus in the coming phase of economic development and credit growth.
Shri Sanjeeb Kumar Mishra, Principal Secretary, Finance emphasized the absolute necessity for the complete adoption of Central KYC across all banks.
Highlighting a critical metric, Shrimati Shalini Pandit, Joint Secretary, Department of Financial Services, Government of India, stressed the urgent need to improve Odisha’s Credit-Deposit ratio to bring it at par with the national average.
Additionally, the Regional Director of the Reserve Bank of India directed all banking institutions to actively increase their banking network footprints in rural areas.
Furthermore, the state government stressed the promotion of Ease of Doing Business initiatives to facilitate investment and enterprise development. A significant focus was placed on enhancing credit flow to support women entrepreneurship, specifically targeting the progressive migration of women from Self-Help Groups to Small and Medium Enterprises. All controlling banks, Lead District Managers, government departments, and district administrations were urged to work collaboratively to meet the financial targets set for the current financial year.
The meeting saw a broad attendance of stakeholders, including the Executive Director of UCO Bank, who serves as the Convenor of the committee, as well as controlling heads of all major banks including NABARD. Senior government officials and Secretaries from key state departments, including Tourism, Agriculture and Farmers Empowerment, Handloom, Textile and Handicrafts, MSME, and Mission Shakti, also participated. Marking the conclusion of the session, the top three performing banks and districts were officially awarded for their achievements in credit delivery and financial performance.