CM YS Jagan held meeting with Bankers Committee, discusses over the loans to be allotted in Andhra Pradesh

Andhra Pradesh 211th State Level Bankers Committee (SLBC) meeting was held on Wednesday at the CM's camp office in Tadepalli. chaired by CM YS Jagan Mohan Reddy where Deputy CM Dharmana Krishnadas, CS Nilam Sawhney SLBC Convener, Union Bank of India Field General Manager V. Brahmananda Reddy, NABARD CGM Sudhir Kumar, Director of Union Bank of India Dinesh Kumar Gard, RBI Regional director Subratha Das were attended via video conferencing.

Speaking on the occasion, CM YS Jagan said the loan target for 2020–21 is estimated at Rs 2,51,600 crore, which is an increase of 9.78 per cent compared to the previous year. "We aim to lend Rs 1,28,660 crore to the agriculture sector that is an increase of 11.9 per cent over the previous year; we expect to lend Rs 39,600 crore to micro, small and medium enterprises (MSMEs) which is 10 percent more than last year," Jagan said.

He asserted that the government has decided to provided stipulated Rs 1,900 crore under education loans, Rs 9,710 crore under home loans and Rs. 410 crore under social infrastructure, Rs. 454 crore to the renewable energy sector. "We have set a target to provide Rs 3,400 crore for mechanization in the agricultural sector; overall, it is decided to lend Rs 1,87,550 crore to the priority sector, which is 10.88 per cent higher than last year and Rs 64,050 crore to the non-priority sector, which is an increase of 6.75 per cent over last year, " said YS Jagan.

Here are the highlights of the meeting:

● The government is determined to pay zero interest loans to farmers in a timely manner and the officials have asked the bankers to pay the zero interest on the kharif loans by Rabi and the zero interest on the rabbi loans by Kharif and submit the details to the government in a timely manner.

● CM said that the government was moving ahead with a special plan for food processing in warehouses, grading, sorting etc. in the villages and asked for adequate assistance for this.

● The CM said that through RBKs, farmer product information would be linked to a central server to facilitate their marketing.

● Finance Ministry officials have asked the bankers to provide adequate assistance to the irrigation projects being undertaken in the state. They appealed to the government to go ahead with a comprehensive plan to utilize the flood waters in Godavari and provide appropriate support for this.

● Bankers were urged to pay special attention over the loans to tenant farmers.