Odisha CM Directs Private Banks to Enhance Loan Disbursal for Welfare Schemes

Odisha’s Chief Minister, Mohan Charan Majhi, has urged ICICI Bank, Axis Bank, and HDFC Bank to improve their performance in disbursing loans under welfare schemes aimed at assisting the state’s underprivileged population. During a meeting held at Lok Seva Bhawan, the CM highlighted the crucial role banks play in implementing welfare initiatives, particularly those focused on credit-linked schemes. He emphasized the importance of these loans for economic upliftment and job creation. Majhi cautioned the banks against continued underperformance, urging them to significantly increase lending to the poor. The banks’ poor performance in Odisha under schemes such as PMEGP, PM Swanidhi, Stand-Up India, and those for agriculture, housing, and education led to their removal from the state government’s empanelled list on June 21. Representatives from the banks responded positively, promising to enhance their performance and speed up loan disbursal.