Pushes for higher credit-deposit ratio
Panaji: Chief Minister Pramod Sawant on Thursday urged banks in the state to increase loan exposure to exporters, micro, small and medium enterprises (MSMEs), women-led enterprises and agriculture-linked activities during a quarterly State Level Bankers Committee (SLBC) meeting on Thursday.
He also highlighted the need for an increased credit in tourism, social infrastructure and green energy, noting that the state’s credit-deposit (CD) ratio – currently 34.62% as of March 31, 2026, compared to 34.17% in March 2025 – can be further improved.
Sawant said that expanding last-mile coverage, improving asset quality and strengthening financial literacy remain the primary objectives for banks in the state.
Focusing on green energy and sustainable development, the Chief Minister requested that bankers submit specific proposals in these sectors. While he lauded banks for their proactive lending, digital initiatives and achievements under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), he stressed the importance of accelerating loan processing and disbursal.
Additionally, he instructed banks handling private company accounts to coordinate with the labour department to facilitate the direct transfer of welfare benefits to eligible employees.
The SLBC reported that banks achieved 91% of the Annual Credit Plan target for the quarter ending March 2026. Despite disbursing loans worth Rs 11,639 crore, the sector saw a shortfall of Rs 1,164 crore against the Rs 12,803 crore target for priority sector lending.
However, progress in social security schemes was notable: PMJJBY beneficiaries grew from 3,66,323 to 4,17,709, while Pradhan Mantri Suraksha Bima Yojana (PMSBY) enrolments rose from 10,54,098 to 12,12,608. With 819 branches, banks have now achieved near-total coverage of the state’s villages.
The meeting was attended by Goa Chief Secretary Dr V Candavelou, RBI Regional Director Prabhakar Jha, SBI General Manager Bindu Janardhanan, NABARD Goa General Manager Sandeep Dharkar and SBI Deputy General Manager and SLBC Member Secretary Shailendra Mishra, alongside other regional bank heads and senior government officials.
Goa government bans official foreign trips to save forex
Panaji: In a major austerity measure, the Goa government has imposed an immediate ban on all official foreign visits by public servants that are funded wholly or partially by the state exchequer.
The decision was communicated on Thursday via an office memorandum issued by the Department of Finance (Revenue and Control), Secretariat, Porvorim. According to the memorandum, the restriction has been implemented in response to the current global economic scenario and the need to conserve foreign exchange reserves.
The order states that the move follows a recent appeal by Prime Minister Narendra Modi urging measures to preserve foreign exchange amid prevailing international economic conditions. Consequently, the memorandum states that all previously granted approvals for official foreign travel stand cancelled with immediate effect. These restrictions will remain in place until further orders from the government.
The directive applies to all government departments, public servants, autonomous bodies and corporations whose international travel is financed through government funds.
The memorandum has been addressed to all state secretaries, heads of departments, budget controlling authorities, Chief Secretary and the offices of ministers as well as the Legislature Secretariat and Raj Bhavan.
The measure is intended to curb non-essential expenditure and promote financial prudence as governments nationwide review spending priorities amid global uncertainty. The memorandum has been issued with the approval of the competent authority and signed by Under Secretary (Finance R&C) Naresh Gaude. NT
