Odisha govt asks banks to open branches in rural areas

Asking banks to open more branches in unbanked Gram Panchayats, Odisha government today urged them to achieve targets in sanction and disbursal of loans under agriculture and allied sectors.
Addressing the bankers at the State Level Bankers Committee (SLBC) meeting, Chief Secretary J K Mohapatra asked the Controlling Heads of the Commercial banks to cover all the unbanked GPs by end of the plan period.
"The banks coming forward to open branches in unbanked GPs will be provided space in Panchayat buildings and Rajiv Gandhi Seva Kendras free of cost for 5 years. This apart, banks opening their branches in unbanked GPs will be given access to govt funds meant for that GP," said additional chief secretary (Finance) U N Behera.

Mohapatra said government has made budget provisions for interest subvention on short and long term crop loan, diary projects, fishery projects and other allied activities.
The Director Ministry of Finance, Alok Pande at the meeting said that in the financial year 2013-14 there has been visible progress in Odisha with regard to opening of new branches. During this year a total number of 458 new branches have been opened which is much higher in comparison to 229 in 2012-13 and 260 in 2013-14.
By March, 2014, a total number of 4281 branches of various banks are operating in different parts of the state out of which 2335 are in rural areas, 1143 in semi urban and 803 in urban areas. In the FY 2013-14 the growth rate in opening of branches has been 11.95 per cent last year.

Chairman SLBC S. Chandra Sekhar urged upon all the banks to strive hard for achieving the targets set by the state government for 2014-15 in each sector from the beginning of the current financial year.