Bhubaneswar, 04/01/2025: Odisha has taken another important step towards empowering women entrepreneurs and enhancing financial inclusion. A high-level meeting chaired by Hon’ble Deputy Chief Minister Smt. Pravati Parida brought together senior officials and bank representatives from across the state to explore ways of strengthening financial support for women-led businesses and Self-Help Groups (SHGs).
The discussions centered on expanding access to loans for SHGs, extending targeted support to “Lakhpati Didis” for building sustainable livelihoods, and identifying measures to overcome challenges in order to improve future outcomes.
Thanks to the consistent efforts of the Mission Shakti Department, Odisha has emerged as a national leader in SHG-bank linkages. In 2023-24 alone, over ₹16,586 crore was disbursed to more than 4.13 lakh SHGs across the state, making Odisha the fourth-highest in India in terms of SHG bank credit. The state has also witnessed a steady increase in the average loan size, signifying better access to financial resources for women’s collectives and entrepreneurs.
The meeting underlined the need for banks to extend more financial support to women-led small businesses and set ambitious targets to foster entrepreneurship at the grassroots. Particular emphasis was placed on ensuring adequate credit flow to SHG members aspiring to become “Lakhpati Didis,” a flagship initiative aimed at enabling women to earn sustainable incomes and achieve financial independence.
Another positive highlight was the relatively low level of Non-Performing Assets (NPAs) in SHG loans in Odisha, which currently stands at 1.42%. The state government has set a target of reducing this further to below 1%, reinforcing the fact that women borrowers are highly reliable and disciplined in repayment.
Addressing the participants, Deputy Chief Minister Smt. Pravati Parida applauded the transformative role of Mission Shakti in women’s empowerment and acknowledged the critical role of banks in ensuring financial inclusion. She noted that empowering women through credit access not only improves family incomes but also strengthens the overall growth trajectory of Odisha.
She further encouraged bankers to proactively extend more loans to SHG members, create more opportunities for women to become “Lakhpati Didis,” and resolve operational issues such as those faced by Subhadra beneficiaries in accessing their bank accounts. By removing such bottlenecks, she emphasized, the state could achieve deeper financial inclusion and ensure that no woman is left behind in the journey of economic empowerment.
The meeting concluded with a strong consensus among all participants on the importance of enhancing SHG bank linkage, promoting entrepreneurship, and creating a robust support ecosystem for women-led businesses in Odisha.
The session was attended by the Commissioner-cum-Secretary of the Mission Shakti Department, Director of Mission Shakti, Director of Institutional Finance, senior members of Mission Shakti, and representatives from various banks operating in the state. Together, they reiterated their commitment to further strengthen Odisha’s reputation as a model state for women’s empowerment through financial inclusion.
