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Give more edn loans: Naidu

Give more edn loans: Naidu
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Andhra Pradesh Chief Minister N Chandrababu Naidu on Tuesday stressed that banking services should reach every person in the State. Speaking at the 188th State Level Bankers Committee (SLBC) meeting held at the Secretariat, he asked the bankers to improve banking services which would give a boost to employment generation and economic activity in the State. “Give more education loans. This will help in revenue generation,” Naidu suggested.

Exhorts banks to extend services to every person in the State

Hyderabad: Andhra Pradesh Chief Minister N Chandrababu Naidu on Tuesday stressed that banking services should reach every person in the State. Speaking at the 188th State Level Bankers Committee (SLBC) meeting held at the Secretariat, he asked the bankers to improve banking services which would give a boost to employment generation and economic activity in the State. “Give more education loans. This will help in revenue generation,” Naidu suggested.

President of SLBC, AP and CMD of Andhra Bank C V R Rajendran told the Chief Minister that the SLBC hopes for a change in the scenario of credit in agriculture sector and look forward to a drastic reduction in Non-Performing Assets (NPAs) in the sector.

Andhra Pradesh Chief Minister N Chandrababu Naidu speaking to bankers at the 188th State Level Bankers Committee meeting held at Secretariat in Hyderabad on Tuesday

The SLBC chairman thanked the Chief Minister for advising farmers and borrowers during a meeting to repay the balance loan amount after receipt of debt relief amount under phase I and get their loans renewed and avail loans at 4 per cent interest rate. He said the government’s decision to release full amount to the borrowers with outstanding amount up to Rs 50,000 would go a long way in mitigating the problems of small and marginal farmers.

He also suggested that farmers need to be educated about the process of debt redemption in a phased manner. Shifting from the routine agenda, Naidu suggested bankers to disburse loans to those setting up food processing units, food parks, tourism-related services, handicrafts, and garment and apparel units. He added that the farmers interested in drip and sprinkler irrigation units also should be given credit.

The Chief Minister also suggested to the bankers to work with the Farmers' Empowerment Corporation on the debt redemption scheme and track its progress. He added that DWCRA (Development of Women and Children in Rural Areas) women too would soon get the benefit of debt redemption program.

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