Odisha CM Urges Private Banks To Improve Loan Disbursal Under Welfare Schemes
Chairing a meeting with senior officials from the three banks at Lok Seva Bhawan on Monday, the Chief Minister underlined the critical role of timely financial assistance in empowering underprivileged communities and strengthening grassroots economic activity.
Bhubaneswar: Odisha Chief Minister Mohan Charan Majhi on Tuesday urged private sector lenders ICICI Bank, HDFC Bank, and Axis Bank to significantly improve their loan disbursement performance under key welfare schemes, days after the state government removed them from its empanelled list of banks.
Chairing a meeting with senior officials from the three banks at Lok Seva Bhawan on Monday, the Chief Minister underlined the critical role of timely financial assistance in empowering underprivileged communities and strengthening grassroots economic activity.
According to a statement from the Chief Minister’s Office (CMO), these banks had underperformed in sanctioning loans across several government-supported initiatives, including agricultural credit, the Prime Minister’s Employment Generation Programme (PMEGP), PM SVANidhi, Stand-Up India, housing and education loans, and export finance. As a consequence, the state government de-empanelled them on June 21.
Chief Minister Majhi stressed that the success of welfare programmes aimed at uplifting the poor and marginalised depends heavily on active and responsible participation from financial institutions. “Banks are crucial partners in ensuring financial inclusion and delivering government benefits to the last mile. They must rise to the occasion and fulfill this responsibility,” he asserted.
The Chief Minister also reiterated that the Centre, under Prime Minister Narendra Modi’s leadership, has introduced a series of initiatives designed to promote inclusive growth, and called upon private banks to contribute meaningfully to these efforts in Odisha.
Bank representatives present at the meeting reportedly responded positively, assuring the Chief Minister of their commitment to strengthening their outreach and improving loan disbursement under welfare schemes. They pledged to take immediate, concrete steps to expand financial support, especially in underserved regions.
With major festivals and the upcoming farming season around the corner, Chief Minister Majhi expressed hope that the banks would act swiftly to ensure timely credit delivery to eligible beneficiaries, helping them access opportunities for livelihood and economic participation.
