Goan Reporter News: 121st State level Bankers Committee meeting held

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The State Bank of India (SBI) successfully organized the 121st meeting of the State Level Bankers’ Committee at the Taj Vivanta, Panaji. The primary objective of the gathering was to assess the banking sector’s performance in the State and discuss future strategies to enhance economic growth.

During the meeting, Chief Minister Dr. Pramod Sawant announced the imminent implementation of the Mukhyamantri Saral Udyog Sahay Yojna, a loan program aimed at boosting the industrial sector. He emphasized the government’s plans to establish bank empanelment for outsourcing various programs, while also urging banks to promote banking-related schemes initiated by the Prime Minister. Dr. Sawant congratulated the banks for their commendable growth in recent times.

Chief Secretary Dr. Puneet Kumar Goel (IAS) actively participated in the meeting, offering insights, solutions, and guidance on the agenda and its associated challenges. He stressed the importance of senior professionals motivating their juniors to meet targets, while also encouraging managers to adopt a more proactive approach.

Dr. V. Candavelou (IAS), Principal Secretary (Finance), commended the banks for surpassing the product deposit level of approximately 1.07 lakh crores. He expressed optimism about the increased economic activities in the State and urged private sector banks to contribute further to this growth.

Smt. Smita C. Kumar, Regional Director of the Reserve Bank of India, emphasized the need for banks to conduct self-analysis and improve their lending practices. She encouraged banks to embrace financial technology, particularly in the agriculture sector, as it can attract more investments.

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