Bhubaneswar: UCO Bank, which serves as the convenor bank for the State Level Bankers Committee in Odisha, has reported sustained progress in its operational and credit indicators across the state. The bank has been actively steering financial inclusion, agricultural lending, and MSME sector growth in coordination with the state administration and other financial institutions.
Recently Union Minister Finance, Shrimati Nirmala Sitharaman also received a dividend cheque of Rs 501 crore for FY 2025-26 from Shri Rajendra Kumar Saboo, Managing Director & CEO, UCO Bank.
The recent State Level Bankers’ Committee meeting in Odisha has yielded significant positive outcomes following the active participation of Shrimati Shalini Pandit, Joint Secretary for Banking and Accounts in the Department of Financial Services under the Ministry of Finance.
Shri Sanjeeb Kumar Mishra, Principal Secretary of Finance for the Government of Odisha, emphasized that the crucial interventions by Shrimati Pandit have catalyzed noticeable performance improvements across UCO Bank and other banking institutions operating in the state. He commended her highly sincere approach, noting that her guidance has successfully pushed financial institutions to align more closely with the state’s economic priorities.
This high-level administrative oversight is expected to accelerate credit flow to priority sectors, resolve long-standing operational bottlenecks, and strengthen the coordination between corporate bank management and state executing agencies for smoother implementation of welfare and development schemes.
According to regional reviews, UCO Bank has significantly expanded its credit disbursement under the Annual Credit Plan, aligning its priorities with the rising demand in rural and semi-urban economies. The credit-to-deposit ratio has shown steady improvement, reflecting an increased flow of credit toward crucial productive sectors such as crop cultivation, fisheries, and small-scale manufacturing units.
The bank is also widening its digital outreach and financial literacy initiatives across unbanked gram panchayats in Odisha to bridge regional infrastructure gaps. Senior bank officials indicated that the institution remains focused on reducing non-performing assets through structured recovery campaigns and cooperative settlement frameworks with state departments. Going forward, UCO Bank intends to boost credit allocation for social housing and higher education loans to support long-term development metrics in the state.