Emergent Meeting of State Level Bankers’ Committee Held

Bhubaneswar, October 28, 2013: An emergent meeting of State Level Bankers’ Committee was convened today under the chairmanship of Shri Upendra Nath Behera, IAS, Additional Chief Secretary, Finance Department, Government of Odisha in the 2nd Floor Conference Hall of Odisha Secretariat for intervention of the Banks in the severe cyclonic storm (Phailin)/Flood affected areas regarding relief and restoration measures.

Additional Chief Secretary (Finance Department) Shri Behera stressed on conversion of short term loan to medium term loan @ 5% interest per annum and @2% per annum to farmers making prompt payment of short term crop loan, This will enable the farmers for availing fresh crop loan in view of recent cyclone/flood.

He also advised all Banks i.e. Commercial Banks, Regional Rural Banks and Cooperative Banks for restructuring/ rephasement of existing loans of affected areas as per RBI guidelines. Additional Chief Secretary (Finance Department) also gave importance on fresh loan to the victims for resumption of normal business.

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Focusing on Rabi Crop loan finance he advised all Banks to achieve the annual target of crop loan and term loan of agriculture including allied sector positively.

Any short fall in Khariff finance will be made good in Rabi Finance added. Banks were also advised to implement RBI guidelines with regard to Rehabilitation Package in respect of Micro, Small and Medium Enterprises (MSMEs). It was also decided to expedite the credit delivery to the affected people by organising special camps by the line departments of the Government in coordination with the Banks.

All banks were advised to issue necessary instructions to the Branch level functionaries for implementation of action points emerged in the meeting. It was also decided to hold monthly review meeting at the State level as well as district level for close monitoring of progress of implementation of Relief and Rehabilitation measures to be undertaken.

Among others, Convener SLBC, Odisha, S.P Singh, Regional Director RBI, P. K Jena, Director, Institutional Finance D.K. Singh, Secretaries of Agriculture, Fisheries & Animal Resources Development, Cooperation Department, Senior Officers of Panchayati Raj, MSME Department, Chairman of Odisha Gramya Bank, Chairman of Utkal Gramya Bank, MD of Odisha State Cooperative bank and Senior Officers of Finance Department, Commercial Banks, Regional Rural Banks and Cooperative Banks were present in the meeting and took part in the discussion.

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