CM Urges Banks to Improve Loan Disbursal Under Welfare Schemes

Bhubaneswar: Odisha Chief Minister Mohan Charan Majhi on Monday held a high-level meeting with representatives of ICICI Bank, Axis Bank, and HDFC Bank at Lok Seva Bhawan, urging them to enhance loan disbursal under key welfare schemes aimed at uplifting the poor and marginalised.

According to a statement from the Chief Minister’s Office (CMO), the performance of these three banks in implementing schemes such as agricultural loans, Prime Minister’s Employment Generation Programme (PMEGP), PM SVANidhi, Stand-Up India, housing loans, education loans, and export credits has been unsatisfactory in the state.

In view of their poor performance, the state government had earlier removed the banks from its empanelled list on June 21.

Highlighting the importance of inclusive economic growth, CM Majhi stressed that under Prime Minister Narendra Modi’s leadership, the Centre is running numerous pro-poor initiatives. He said effective loan disbursal is crucial to integrating disadvantaged communities into the economic mainstream and generating employment.

“Banks are crucial partners in implementing government welfare programmes,” the Chief Minister said, urging the financial institutions to take proactive steps to support schemes targeting economically weaker sections.

In response, representatives from the three banks assured the Chief Minister of their commitment to improving performance. They pledged to take prompt action to ensure greater loan coverage under the identified schemes.