Odisha

Odisha Govt Asks Banks To Expedite Loans To SHGs In FY 2023-24

By
OB Bureau

Bhubaneswar: The Odisha government has asked the banks to expedite the loans to Self-Help Groups (SHGs) to meet the target in financial year 2023-24.

During a high-level review meeting of loan disbursement to SHGs, it was revealed that the Mission Shakti department had set a target to provide Rs 15,000 crore loan in the financial year.

The banks have sanctioned loans amounting to Rs 5,763 crore to 45,046 SHGs by September, achieving 38.43% of the target. While the average loan disbursement to SHGs was Rs 3.81 lakh, the department has planned to increase the amount to Rs 4 lakh, sources said.

While the commercial banks have provided over 50% of the loan, the private banks are yet to make much progress. Ganjam district topped in the state in achieving 59.47% of loan target, followed by Deogarh with 52.7% and Mayurbhanj 51.53%.

Finance Secretary Vishal Kumar Dev and Mission Shakti Secretary Sujata R Karthikeyan appealed to the banks to expedite the process to sanction loan to SHGs under 5T Initiative to meet the target.

OB Bureau

Recent Posts

IPL Auction: KKR Break Bank For Venkatesh On Lucrative Day For Indian Players; Check Top Buys

Mumbai: The first day of the IPL mega player auction at Jeddah threw up several…

November 24, 2024

Odisha Govt Hands Over Case Of Attack On Dharmasala MLA To Crime Branch

Bhubaneswar: The Odisha government has handed over the investigation into the attack on Dhramasala MLA…

November 24, 2024

Commissionerate Police Issues Traffic Advisory During Winter Session Of Odisha Assembly; Details Here

Bhubaneswar: The Commissionerate of Police on Sunday issued an advisory for movement of vehicular traffic…

November 24, 2024

Elon Musk Proposal: Fire US Federal Employees Who Want To Work From Home

New York: Now that President-elect Donald Trump has tasked Elon Musk with the responsibility of co-heading…

November 24, 2024

Odisha Govt Warns Of Stern Action For Renting Out Its Quarters

Bhubaneswar: The Odisha government has warned its employees of stern action for sub-letting their allotted…

November 24, 2024

AR Rahman Best Man In The World, Certifies Saira Banu; Then Why Their Separation?

Mumbai: There has been a lot of talk over AR Rahman and his wife Saira…

November 24, 2024

Process On To Form NODC In 2-3 Months, Says Odisha CM Mohan Majhi

Sundargarh: The North Odisha Development Council (NODC) would be formed in 2-3 months, said Chief…

November 24, 2024

Odisha DGP Reviews Security Arrangements For President’s Visit To Puri

Puri: Director General of Police (DGP) YB Khurania on Sunday reviewed the security arrangements for…

November 24, 2024