Dy.CM discussed with the representatives of the leading banks of Odisha regarding credit linkage to the SHGs under Mission Shakti
Bhubaneswar (Kalinga Voice) : In a significant step towards strengthening financial inclusion and supporting women-led enterprises, a high-level meeting chaired by Deputy Chief Minister and Minister for Mission Shakti Department, Women and Child Development Department, and Tourism Department, Smt. Pravati Parida, was convened with representatives from all leading banks of Odisha. The meeting focused on advancing Self-Help Group (SHG) credit linkage under Mission Shakti Department, financing to Lakhpati Didis to undertake their livelihood activities, addressing existing challenges, and laying out strategic goals for the future.
With the Department’s unrelenting efforts, Odisha has emerged as a national leader in SHG bank linkage, with loans amounting to ₹16,586 crore disbursed to over 4.13 lakh SHGs in FY 2023-24, placing the state in fourth position in the country in the performance metrics. The average loan size for SHGs in Odisha has increased over the year, reflecting significant strides in enhancing access to institutional credit for SHG members. These achievements underscore the state’s commitment to empowering women through robust institutional financial mechanisms.
The meeting highlighted the need to expand focus on enterprise financing for women, encouraging banks to introduce new schemes tailored to individual women entrepreneurs. A target to support individual women enterprises was discussed, marking a decisive shift towards fostering women-led small and medium enterprises (SMEs).
Addressing Non-Performing Assets (NPAs) in SHG loans was a critical point of discussion. Odisha, with one of the lowest NPAs nationally at 1.42%, aims to reduce this further to below 1%.
Deputy Chief Minister Smt. Pravati Parida applauded the progress made by Mission Shakti and emphasized the vital role of the bankers in empowering women in Odisha. She reiterated that financial inclusion is at the core of Odisha’s development agenda and called on stakeholders to further solidify their engagement with SHGs.
Further the Deputy Chief Minister emphasised on creating more Lakhpati Didis and urged the bankers to participate in the endeavour of the Government of Odisha by providing more loans to WSHG members. Along with this she urged all bank officials to prioritize identifying and resolving issues related to the bank accounts of Subhadra beneficiaries, ensuring seamless access and timely support. The meeting concluded with a collective resolve to accelerate SHG bank linkages and foster sustainable livelihoods for women entrepreneurs across Odisha.
The Commissioner cum Secretary, Department of Mission Shakti, Director,Mission Shakti, Director, Institutional Finance, controlling heads of banks, senior officials of department of Mission Shakti were present during this meeting.
