Pvt banks warned over poor performance

Guntur: Union Minister of State for Rural Development and Communications Dr Pemmasani Chandrasekhar stated that bankers play a key role in the successful implementation of government schemes and must ensure that loans reach all eligible beneficiaries.

He addressed the District Consultative Committee and District Level Review Committee meetings here on Friday. He reviewed loan sanctions under various central and state government schemes with bankers on tenant farmer loans, livestock loans, education loans, SME loans, Self Help Group loans under One Family One Entrepreneur, PM Mudra Yojana, PMEGP, PM SVANidhi, Kisan Drones, PM Vishwakarma, PMFME and other priority sector schemes. Bank-wise targets and achievements were discussed in detail.

The Union Minister said that loan sanctions under government schemes have increased three to four times compared to the previous financial year, reflecting improved performance by banks. He appreciated public sector banks for exceeding their targets and showing outstanding performance. At the same time, he expressed concern over the poor performance of private sector banks, particularly in tenant farmer loans, education loans and other priority sector schemes. He instructed private banks to improve their performance within the next three months, failing which necessary action would be taken.

Dr Pemmasani said that around Rs 149 crore of unclaimed amounts are lying in banks in the Guntur region, of which Rs 120 crore belongs to the public. He directed officials to create awareness and ensure these amounts are returned to rightful claimants. He highlighted that crop loans to tenant farmers increased from Rs 37 crore last year to Rs 111 crore this year.

District collector A Thameem Ansariya, MLA Galla Madhavi, mayor Kovelamudi Ravindra were among those, who participated.