India News | Focus on Credit Flow to Farmers, SHGs, MSMEs: Odisha CM Tells Bankers

Bhubaneswar, Oct 29 (PTI) Odisha Chief Minister Naveen Patnaik on Thursday applauded bankers for their services during the COVID-19 crisis and urged them to focus on credit flow to farmers, self-help groups and MSMEs to revive the state's economy.

The chief minister also said he would closely monitor loan advances to the three crucial sectors and review the progress with collectors and bankers jointly by the end of November.

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He said credit to farmers, self-help groups and MSMEs is required, for which bankers' support is essential.

The state government is providing more than Rs 600 crore for interest subvention to facilitate advances to farmers at zero per cent interest rate for loans up to Rs 50,000 and at two per cent for credit up to Rs 3 lakh, he said.

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"We also have 'Balaram' scheme to help our sharecroppers," he said.

For women self-help groups under the Mission Shakti, the state government is providing 100 per cent interest subvention up to Rs 3 lakh, he said.

The state has also designed some interest subvention scheme to boost the MSME sector, the chief minister said.

"Apart from doctors and other healthcare staffers, bankers are also COVID warriors as you are central in our fight to revive and restore livelihoods," Patnaik said while addressing a State Level Bankers' Committee (SLBC) meeting here.

Expressing condolences to the families of bankers who have lost their lives due to the infection, Patnaik appreciated the efforts of the banking community for extending their services.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)