Live
- Allu Arjun’s team denies arrest rumors; gives clarity
- Film actor Mohan Babu knocks High Court doors. Requests for anticipatory bail
- Allu Arjun Seeks Lunch Motion; Court Hearing Scheduled for 2 PM Today
- Vijayawada hosts Swarnandhra Vision-2047 Program to foster development in AP
- World Bank okays loan for new project to boost earnings of UP farmers
- Zomato gets GST tax demand notice of Rs 803 crore
- Atul Subhash suicide: No arrests made yet, says Bengaluru Police Commissioner
- Indian agrochemicals sector to see 7-9 pc growth next fiscal: Report
- SC refers to CJI Cong leader’s petition for verification of EVMs used in Haryana polls
- To become the youngest world champion is truly a great feat: Gill congratulates Gukesh
CM seeks liberal loans for cyclone-hit farmers
CM seeks liberal loans for cyclone-hit farmers, 182nd State Level Bankers’ Committee Meeting. He asked the SLBC to adopt a liberal approach in rescheduling of crop loans and sanction of fresh short-term loans to the farmers in all the cyclone-affected mandals.
• Addresses the 182nd State Level Bankers’ Committee (SLBC) meeting
• Asks bankers to complete rescheduling of loans and fresh short-term loans to the cyclone-hit farmers • Fresh loans for Rabi season by January end
• AP first in country to give one crore peasants interest-free loans
• Welcomes appointment of CVR Rajendran as new CMD of Andhra Bank
Hyderabad: Chief Minister N Kiran Kumar Reddy on Saturday stressed on the need to adopt special measures in providing loans to cyclone-hit farmers of the State. Addressing the 182nd State Level Bankers’ Committee (SLBC) meeting at Jubilee Hall here, Kiran Kumar said that Andhra Pradesh was always ahead of other States in extending credit facility to the priority sector.
He asked the SLBC to adopt a liberal approach in rescheduling of crop loans and sanction of fresh short-term loans to the farmers in all the cyclone-affected mandals.
“The good monsoon this season raised hopes of reaping good harvest in the State. But the heavy rains and series of cyclones during September-October caused a setback to the expected harvest. Certain districts like East and West Godavari, Srikakulam, Visakhapatnam and Khammam were severely affected by the calamities,” he stated.
He asked the bankers to complete rescheduling of loans to the farmers as soon as possible. He also asked them to see that disbursals of fresh loans for Rabi season would be completed by the end of January.
Welcoming the new chairman and managing director of Andhra Bank, CVR Rajendran, Kiran Kumar placed on record the exceptional services rendered by his predecessor BA Prabhakar as the president of SLBC.
“I hope to receive the same kind of cooperation and support from the new CMD,” he said.
Referring to the interest-free crop loans, he said that the government was extending loans to the farmers at zero per cent interest up to Rs 1 lakh and at 3 per cent for Rs1-3 lakh.
“A total of one crore peasants are benefited by this scheme and it is the first State in the country to introduce such a scheme. Recently, the Centre has taken a decision to apply normal crop loan rates (7 per cent) to rescheduled crop loans (11 per cent) in calamity affected mandals. The percentage to priority sector lending of bank has declined from 6.75 per cent in 2011-12 to 6.40 per cent 2012-13 and has further fallen to 6.03 per cent by September 2013. This trend needs to be arrested immediately,’’ Kiran explained.
On SC and ST financing, he said that even 50 per cent of targets were not being achieved.
Minister for Finance Anam Ramanarayana Reddy, Minister for Revenue N Raghuveera Reddy, Minister for Stamps and Registration T Narasimham, Minister for Social Welfare Pithani Satyanarayana, Minister for Rural Development Dokka Manikya Vara Prasad and Minister for Minority Welfare Ahmadullah and Chief Secretary PK Mohanty were among those who attended the meeting.
