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Chief Minister chairs the 178th meeting of the State Level Bankers Committee in Gandhinagar

The Chief Minister emphasized the need for banks to increase their efforts in offering financial support to uplift marginalized and underprivileged people, aligning with the vision of Prime Minister Shri Narendra Modi to integrate them into the mainstream.

Banks can expand the window of branch-wise credit and provide quick loans through schemes: Chief Minister

Chief Minister Shri Bhupendra Patel has urged banks for more active collaboration for greater success of loan assistance schemes of both the central and state governments.

In the 178th meeting of the State Level Bankers Committee held in Gandhinagar, the Chief Minister expressed that Prime Minister Shri Narendra Modi has shown boldness in financially supporting the marginalized and underprivileged poor people. He expects banks to become more proactive in this regard.

He emphasized that banks should provide easily accessible loan assistance, with the government serving as the guarantor, to people, small traders, rural farmers, cattle keepers, and women self-help groups.

Chief Minister Shri Bhupendra Patel mentioned that the bankers were also requested to compare the NPA of such loan assistance repayments with other loan assistance repayments.

The Chief Minister suggested that banks should implement a process where branch-wise loan assistance is provided in such schemes. This will lead to a quick and efficient distribution of loans to needy individuals in remote areas, ultimately achieving the goals of the schemes more effectively.

Shri Bhupendra Patel stated that the credit for digitalization and the ‘Banking at Doorstep’ initiative goes to Hon’ble Prime Minister Shri Narendra Modi. He emphasized that even small-scale businesses are now shifting from cash transactions to digital, inspired by the encouragement for digital transactions. In this context, banks are also expanding the reach of digitalization and ensuring that beneficiaries quickly reap the benefits of the schemes.

The Chief Minister stated that the government is committed to working closely with the banks to ensure the successful implementation of schemes. He emphasized that if the bankers bring their challenges to the state government, then efforts can be made to overcome those challenges together.

Under the leadership of Prime Minister Shri Narendra Modi, India has become the fifth-largest economy in the world. The Chief Minister expressed that the contribution of the banks will be crucial in maintaining Gujarat as the Growth Engine of the country and taking it to third position.

Chief Secretary Shri Raj Kumar stated the banking system is the lifeline of the economy and that the bankers should cooperate in taking it forward.

He continued that when we have all the necessary resources, we should use data analytics for credit assistance in the social sector, to drive qualitative improvements.

The Chief Secretary requested banks to be proactive in expanding the reach of welfare schemes like PM Vishwakarma Yojana, Jeevan Jyoti Bima Yojana, Kisan Credit Card (KCC), PM SVANidhi, Jan Dhan Yojana, and SVAMITVA Yojana.

The convenor of SLBC Shri Ashwin Kumar clarified the purpose of the meeting. Executive Director of Bank of Baroda and Chairman of SLBC, Shri Ajay Khurana delivered a welcome address, and CGM Incharge of Reserve Bank of India Smt. Nisha Nambiar addressed the occasion.

During the meeting, presentations were used to assess credit targets and the status of numerous public welfare initiatives at both the state and central government levels. Senior officials from various banks, including the state’s principal bank and NABARD, were in attendance.

Source: Information Department, Gujarat