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Bankers should be liberal to small traders: Sitharaman
Union Commerce Minister Nirmala Sitharaman on Saturday has called for active participation of Bankers in implementation of development and welfare schemes, introduced by State and Central Governments.
Bhimavaram: Union Commerce Minister Nirmala Sitharaman on Saturday has called for active participation of Bankers in implementation of development and welfare schemes, introduced by State and Central Governments. Addressing the Bankers at the District Bankers Coordination Committee meeting at Sri Vishnu Educational Society, the Minister recalled that the government has decided to sanction loans to small traders through Mudra Bank on lowest interest rate.
It will bring small traders out from the clutches of the private lenders, she added. The Minister pointed out that the Centre has aimed at providing bank account to every citizen and introduced the zero balance accounts and the accidental insurance scheme with least premium. The Union Minister asked the Bankers to sanction MUDRA loans to the small traders in every village and town in the district.
She also suggested them to pay the small premium amount to the small traders to provide insurance coverage. She also asked the bankers to lend money to provide basic infrastructure for the development of productivity sector. She opined that due to lack of basic infrastructure, the industrial development was on a slow-pace.
In view of the productivity sector’s problems, the Centre has decided to develop the highways and roads in the country in a big way. In response to the Make in India call given by Prime Minister Narendra Modi, foreign investments have risen in a big way, she pointed out. The Unon Minister said, the government has introduced the single window system to encourage the industrial sector.
The Centre has also set up the skill development centers countrywide for the new entrepreneurs. Further, she also urged the youth to come forward to set up industries in the country. Andhra Pradesh Endowments Minister Pydikondala Manikyala Rao, Narsapuram MP Gokaraju Gangaraju, District Collector K Bhaskar, Andhra Bank Chief General Manger Ajay Gupta, Narsapuram Sub Collector A.S. Dinesh Kumar participated in the meeting.
