Haryana Chief Secretary Reviews Banking Progress, Calls for Faster Loan Disbursement

Chandigarh, November 10: Haryana Chief Secretary Anurag Rastogi stressed the need to close the gap between loan approvals and actual disbursement to beneficiaries.

He was chairing the 174th meeting of the State Level Bankers’ Committee (SLBC) held in Chandigarh on Sunday. The meeting was attended by senior officials from various banks, government departments, and financial institutions to assess the performance of the state’s banking sector.

Rastogi directed banks to review their internal policies and ensure timely and adequate loan availability to all eligible beneficiaries, including farmers. He lauded the coordinated efforts of banks and government departments in promoting financial inclusion and supporting micro, small, and medium enterprises (MSMEs). He emphasized that strong coordination between banks and district administrations is essential to extend financial services to rural and aspirational blocks.

The Chief Secretary instructed all banks to provide detailed reports of unutilized government deposits and submit a comprehensive report to the Finance Commissioner and Secretary. He also discussed operational issues with bank representatives and shared practical suggestions to improve financial access and efficiency.

The meeting also acknowledged Haryana’s achievements in financial awareness. Under the ‘Your Money, Your Right’ campaign, 825 dormant accounts were reactivated, and over ₹2.87 crore was returned to rightful beneficiaries—helping citizens reclaim their unclaimed deposits effectively.

Officials informed that the state’s banking sector continues to show robust growth. As of September 2025, total deposits stood at ₹8,68,918 crore, while total advances reached ₹7,69,537 crore—recording annual growth rates of 12.48% and 14.36%, respectively. Haryana’s Credit-Deposit ratio improved from 87% to 89%, significantly higher than the national average of 60%, reflecting balanced and inclusive credit expansion across all districts.

The state’s banking network has also grown steadily, now comprising 5,582 branches—2,733 from public sector banks, 1,941 from private banks, 218 from small finance banks, and 690 from Haryana Gramin Bank.

In Priority Sector Lending (PSL), banks performed exceptionally well, achieving 121% of their semi-annual target. Against a target of ₹1,56,572 crore, banks disbursed ₹1,89,741 crore in loans. The agriculture sector achieved 99% of its goal, while the MSME sector surpassed expectations with 145%, marking a major step toward empowering small businesses.

Progress under several central government schemes was also reviewed. Under the Pradhan Mantri Vishwakarma Yojana, 30,754 applicants completed skill training, and banks approved over 7,000 loan cases. Additionally, 14,306 toolkits were distributed to traditional craftsmen, promoting self-reliance.

The PM SVANidhi 2.0 scheme also witnessed remarkable progress, with major banks like SBI, PNB, and Bank of Baroda playing leading roles in extending loans to street vendors. Meanwhile, the PM Surya Ghar: Muft Bijli Yojana received enthusiastic participation across Haryana, with 34,799 applications filed and 42% of beneficiaries already disbursed funds, promoting solar energy adoption among families.

To boost agricultural infrastructure, ₹931.8 crore was sanctioned under the Agriculture Infrastructure Fund (AIF), covering 61% of the annual target.

Haryana also continues to lead in digital banking, with over 97% of savings and current accounts now digitally covered. Eighteen banks have achieved 100% digitalization, ensuring better accessibility to banking services in both rural and urban areas.

The meeting further discussed full coverage of financial inclusion schemes, implementation of the Pradhan Mantri Fasal Bima Yojana, expansion of bank branches in unbanked rural areas, and ways to increase credit flow to weaker sections and small farmers.

The meeting was attended by Finance Commissioner and Secretary Mohammad Shayin, PNB Executive Director D. Surendran, RBI Chandigarh General Manager Pankaj Setia, NABARD Haryana Chief General Manager Nivedita Tiwari, and SLBC Haryana Convenor Lalit Taneja, along with other senior officials from banks and government departments.