Haryana Chief Secretary Reviews Banking Progress, Orders Acceleration of Loan Disbursement

Chandigarh, November 10: Haryana Chief Secretary Anurag Rastogi emphasized the need to bridge the gap between loan sanctioning and actual disbursement to beneficiaries at the earliest.

He was presiding over the 174th meeting of the State Level Bankers’ Committee (SLBC) held in Chandigarh. The meeting focused on reviewing the overall performance of the state’s banking sector and improving coordination between banks and government departments. Senior officials from various banks, government departments, and financial institutions were present.

Rastogi directed banks to review their policies and ensure that all eligible beneficiaries, including farmers, receive timely and adequate loans. He commended the collective efforts of banks and government agencies in promoting financial inclusion and supporting micro, small, and medium enterprises (MSMEs). He stressed that continuous coordination between banks and district administrations is essential to extend financial services to rural and aspirational blocks.

The Chief Secretary instructed all banks to submit detailed reports on unutilized government deposits to the Finance Commissioner and Secretary. He also discussed key operational challenges with bank representatives and suggested concrete measures to improve financial access and efficiency.

The meeting also recognized the state’s progress 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 forgotten deposits.

According to data presented, Haryana’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 — marking annual growth rates of 12.48% and 14.36%, respectively. The state’s Credit-Deposit (CD) ratio improved to 89%, significantly higher than the national average of 60%, indicating strong credit expansion and balanced growth across districts.

The state’s banking network has also expanded, with a total of 5,582 branches, including 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 achieved 121% of the semi-annual target by disbursing ₹1,89,741 crore against a target of ₹1,56,572 crore. The agriculture sector achieved 99% of its goal, while MSMEs surpassed expectations with 145%, underscoring the state’s strong entrepreneurial momentum.

Progress under various central government schemes was also reviewed. Under the Pradhan Mantri Vishwakarma Yojana, 30,754 applicants completed skill training, and over 7,000 loan cases were approved. A total of 14,306 toolkits were distributed to artisans to promote self-reliance.

Under PM SVANidhi 2.0, major banks like SBI, PNB, and Bank of Baroda played key roles in providing credit to street vendors. The PM Surya Ghar: Muft Bijli Yojana also witnessed enthusiastic participation, with 34,799 applications received and 42% of beneficiaries already disbursed funds, enabling families to transition to solar energy.

To strengthen agricultural infrastructure, ₹931.8 crore was sanctioned under the Agriculture Infrastructure Fund (AIF), achieving 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, enhancing accessibility in both rural and urban regions.

The meeting also reviewed 100% coverage under financial inclusion schemes, implementation of the Pradhan Mantri Fasal Bima Yojana, opening new branches in unbanked rural areas, and increasing credit flow to weaker sections and small farmers.

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 were among the key officials present.