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147th State level Bankers’ Committee Meeting for better livelihood opportunities

147th State level Bankers’ Committee Meeting ‘Bankers to ensure quality banking service for better livelihood opportunities’ :Finance Minister Sri Behera

Bhubaneswar, (By Minaketan Jena)  Bankers are said to work in a team spirit to provide quality Banking services in the State for ensuring better livelihood opportunities to the people along with social security and help improve their quality of life, urged Sri Shashi Bhusan Behera, Minister, finance & Excise here in a meeting to bankers.Addressing the 147th State level Bankers’ Committee here Minister Sri Behera said that Banking Institutions have to create an encouraging atmosphere in extending credit for manifold development in the state. He said that comparative position of credit deposit ratio during 2015-16 and 2016-17 does not inspire confidence. The credit deposit ratio excluding advance sanctioned in other States and utilised in our State is 50.93% against the bench mark of 60%. The achievement of annual credit plan target in 2016-17 vis-a-vis the target under the Annual Credit Plan for priority sector is 67.63%.The C.D. ratio has declined by about 6% in 2016-17 and the credit investment to deposit ratio has deteriorated by around 5%.The advance to the MSME sector has come down by 18% in 2016-17 over the level of advances given during 2015-16. The state of education loans and advances to weaker sections has declined marginally.These are disturbing trends, he added.Sri Behera also said that a realistic bank wise and district-wise credit target of Rs.60,000 crore has been firmed up in the District Consultative Committee which is proportionate to the deposit mobilised by the banks in the respective Districts. He called upon the banking community to make all out effort to achieve this target in 2017-18 and help enhance credit flow to all segments of the priority sector. He also said that 340 brick & mortar branches and 337 fixed location B.Cs/Ultra Small Branches are being proposed to be opened in unbanked gram panchayats over a period of 3 years. He also assured the bankers to provide basic infrastructure like public space in the Gram Panchayat headquarters and power connection for opening up of brick and mortar branches or fixed point Banking Correspondents. Minister Sri Behera also inaugurated a Portal on Banking Network in Odisha. In the meeting, attended by officials of Reserve bank of India, NABARD, Nationalized Banks, Public Sector Banks, Financial Institutions, Insurance Companies, Secretary and Directors of various Departments, Lead Bank Managers and District Collectors, Sri R. Balkrishnan, Development Commissioner suggested thematic subgroups should be formed in addition to the structured SLBC to deliberate and identify sector wise credit delivery in order to have a joint accountable system in the state for banking and Financial Institutions. Sri Tuhin Kanta Pandey, Principal Secretary, Finance Department underlined the importance of connectivity as a major instrument of development and growing economy and emphasized on cluster financing. He also said that Reserve Bank guideline to cover 25% of Banking outlets in rural areas should be strictly adhered. Sri Pandey stressed upon promotion of digital transactions by providing Point of Sale (PoS) devices to Government offices, agencies and business establishments. Among others Sri S. N. Pasupalaka, Vice-Chancellor of OUAT, Sri Charan Singh, Chairman,SLBC, Dr. Panigrahi, CGM, NABARD, Sri Reddy, CGM, SBI, Sri Das, OIC, RBI, Sri Mohanty, General Manager, RBI and Sri Anil Kumar, Convener, SLBC were present in the meeting.

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