Banks told to expand rapidly
The intensity of the call money scam which came to light in the state reveals that there is every need for the banks to take up rapid expansion to cover more and more people to avoid them approaching private money lenders, said Andhra Bank Managing Director (MD) and Chief Executive Officer (CEO) Suresh N Patel.
Tirupati: The intensity of the call money scam which came to light in the state reveals that there is every need for the banks to take up rapid expansion to cover more and more people to avoid them approaching private money lenders, said Andhra Bank Managing Director (MD) and Chief Executive Officer (CEO) Suresh N Patel.
Speaking to the media prior to his meeting with branch managers and officials at Andhra Bank zonal office here on Friday, Suresh Patel briefed about Andhra Bank’s endeavours to reach out more and more needy people and its efforts in implementation of the BJP-led NDA government’s social security schemes like Mudra and Atal Pension Yojana.
Answering a query as opposition, social activists and others are viewing the call money scandal as the fallout of the failure of banking system in lending the poor and other vulnerable sections, Suresh said that there is an urgent need and scope for the banks to expand their operations.
“Banks have done well in improving credit facilities and also extending its facilities to large number of people. But I agree there is lot to be done by the banks which have to give a big push to lending in every state,” he averred.
Suresh Patel felt that lack of financial literacy and skill development mainly coming in the way of the economically weak to approach banks. In this connection, he said that the Andhra Bank took up a new initiative to reach out to the people.
The bank rural branch personnel will visit villages on every Wednesday while in towns the bank officials will meet customers and interact with them for improving banking services. Zonal Manager Krishnamurthy V Varanasi and others were present.
Our Bureau
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