Bhubaneswar, 04/01/2025: A meeting was held to find ways to improve financial support for women-led businesses and increase financial inclusion in Odisha. The meeting, chaired by Hon’ble Deputy Chief Minister Smt. Pravati Parida, brought together bank representatives from across the state. The main focus was on improving loans for Self-Help Groups (SHGs), providing financial support to Lakhpati Didis for their livelihoods, and addressing any challenges to achieve better results in the future.
Because of the efforts of the Mission Shakti Department, Odisha is now a leader in SHG bank linkage. In the year 2023-24, over Rs. 16,586 crore was given to more than 4.13 lakh SHGs in the state, making Odisha the fourth highest in the country. The average loan size for SHGs has also gone up, meaning women now have better access to bank loans.
The meeting highlighted the importance of banks providing more financial support to women-led small businesses. It also focused on setting goals to help women entrepreneurs grow their businesses. Another key point was the low rate of Non-Performing Assets (NPAs) in SHG loans, which is currently at 1.42%. Odisha aims to reduce this rate to below 1%.
Smt. Pravati Parida praised the work of Mission Shakti and stressed how important bankers are in helping women in Odisha. She said financial inclusion is key to the state’s growth and encouraged everyone to support Self-Help Groups (SHGs) more. The Deputy Chief Minister also asked bankers to give more loans to Women SHG members and help create more Lakhpati Didis. She requested them to fix any issues with Subhadra beneficiaries’ bank accounts to make sure they can access financial services easily.
The meeting ended with everyone agreeing to improve SHG bank linkages and create more opportunities for women entrepreneurs in Odisha. The meeting was attended by the Commissioner-cum-Secretary of the Mission Shakti Department, Director of Mission Shakti, Director of Institutional Finance, bank representatives, and senior members of the Mission Shakti Department.
