Odisha News :SLBC approves Rs 40,000 cr Annual Credit Plan for Odisha

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Latest Odisha News : #Odisha #News :SLBC approves Rs 40,000 cr Annual Credit Plan for Odisha

Bhubaneswar: The State Level Bankers Committee (SLBC) today approved a target for priority sector finance under Annual Credit Plan for Odisha in 2014-15 at Rs 40,000 crore, even as banks expressed concern over poor recovery mainly under government sponsored schemes.

eodisha.org Odisha News SLBC approves Rs 40,000 cr Annual Credit Plan for Odisha

The 134th SLBC meeting presided over by UCO Bank CMD Arun Kaul was attended by representatives of different banks and Odisha’s Additional Chief Secretary, Finance, U N Behera.

“CD ratio of banks as a whole in the state was 89.70 per cent. The banks which have not achieved the CD ratio of national parameter of 60 per cent were advised to achieve it immediately,” an official said on the review being made by the committee on performance of banks operating in the state.

The percentage of priority sector advances to total advance is 55.27 per cent in Odisha against the nationalparameter of 40 per cent, sources said claiming that the commercial banks in the state have achieved all mandatory national parameters as on December 31, 2013.

On year to year basis, the review revealed the deposit and advance have increased by 15.07 per cent and 22.95per cent respectively. “Total advance to agriculture sector is Rs 26,023.86 crore which is 28.95 per cent of total advance against the national parameter of 18 per cent,” they said.

The banks in Odisha have issued 6,86,244 Kisan Credit cards (KCC) for Rs 7312.35 crore during the half year ending December, 2013. Similarly they have financed Rs 64.95 crore to 8435 number of Joint Liability Groups (JLGs) during the half year ending December, 2013.

Under annual credit plan 2013-14, the achievement of banks in all sectors up to December 2013 was 54.57 per cent.

The state government has suggested to all banks operating in Odisha to ensure achievement of the annual target under ACP positively.

Banks have financed Rs 172.66 crore to 10503 numbers of beneficiaries under education loan scheme during the half year under review, they said adding that the banks are advised to give more stress on financing to MSME sector for the development of the State.

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