Naveen Calls Upon Banks To Step Up Credit To Core Sectors

Bhubaneswar: Chief Minister Naveen Patnaik on Saturday called upon the banks to step up credit to farm sector, MSMEs and Mission Shakti groups to help Odisha government build a strong economy.

Speaking at a function, organised at the Convention Centre of Loka Seva Bhawan in Bhubaneswar for awarding the best-performing banks in providing credit to the core sectors, Naveen said adequate bank credit to agriculture and allied sectors, MSMEs and Women SHGs is a pre-requisite to build a strong economy.

“I attach top priority to three fundamental pillars of our economy- Agriculture, MSMEs and Mission Shakti Groups. The provisions for these sectors in the state budget have been substantially increased and we are also providing interest subvention to reduce the interest burden on the people,” he said.

Stating that Mission Shakti groups have immensely contributed towards strengthening the rural economy, the chief minister said the government is providing them interest subvention on loan upto Rs 5 lakh.

He further said the government has fixed an ambitious Annual Credit Plan target of Rs 1.6 lakh crore for the current financial year and hoped that all districts and banks will work closely to achieve the target.

Congratulating the award-winning banks, he hoped that they would serve as an inspiration for other banks for improving credit disbursement to the priority sectors.