Odisha CM Stresses On Bank Credit To Farmers, Women SHGs, MSMEs

Bhubaneswar: Chief minister Naveen Patnaik on Thursday stressed on bank’s intervention in improving the economic condition of farmers, women and MSMEs.

Speaking at the State Level Bankers Committee (SLBC) meeting, the Chief Minister said bankers are also “COVID Warriors” as they are central to the fight to revive and restore livelihoods. “I take this opportunity to appreciate the banking community for doing great service even during the lockdown period risking your lives,” he said.

Stating that his government is very serious about restoring economy both at state level and individual household levels, he said he has three important interventions where bankers’ support is needed. Those are credit to farmers, Mission Shakti self-help groups and MSMEs.

“​We are providing more than Rs 600 crore for interest subvention to facilitate farmers get loan at zero per cent upto Rs 50,000 and at 2% upto Rs 3 lakhs We also have our ‘Balaram’ scheme to help the share-croppers,” the chief minister said.

​In case of women self-help groups, Mission Shakti, the government is providing 100% interest subvention upto Rs 3 lakhs making it interest-free. ​Similarly for MSMEs, the state has designed some interest subvention to boost the sectors.

“I would be closely monitoring credit flow to these three crucial sectors and have a district-wise review with collectors and bankers jointly by the end of November,” Naveen said.

Announcing that best performing banks would be awarded with Chief Minister’s Award for Champion Banks, he said he would also inform about the performance to the Union Finance Minister.