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Extend loans to priority sector: Naidu to banks
Chief Minister N Chandrababu Naidu asked the bankers to update technology to extend loans to priority sector. He said bank officials should work in coordination with the State government for result-oriented loan distribution.
Vijayawada: Chief Minister N Chandrababu Naidu asked the bankers to update technology to extend loans to priority sector. He said bank officials should work in coordination with the State government for result-oriented loan distribution.
Addressing State-level bankers committee meeting held here on Monday, the Chief Minister said bankers should bring awareness among beneficiaries of various schemes to repay the loans in time to extend further loans.
The Chief Minister stressed the need for integration of various colleges and universities for skill development to improve self-employment opportunities to a large number of youth.
SLBC convenor, Suresh N Patel, said that the annual credit plan for 2016-17 stands at Rs 1,65,538 cr. In the first quarter of the financial year, Rs 33,188 cr was extended to priority sector and Rs 3,243 cr to non-priority sector registering distribution of 28 per cent loans in the first quarter.
Speaking on the occasion, N Chandrababu Naidu said that bankers should come forward to extend loans to tenant farmers. He said banks should not insist on mortgage of gold, while extending agricultural loans.
He said that the State government is planning to increase the GSDP through agriculture by extending necessary assistance to farmers in the way of distribution of inputs, fertilisers, seeds and marketing facilities.
The Chief Minister announced three committees for transforming agricultural sector into a profitable proposition and sought the support of bankers.
He appointed a committee to monitor sanctioning of loans to tenant farmers with the help of loan eligible certificate, certificate of cultivation under the presidentship of Chief Commissioner of Land Reforms AC Puneta.
Another committee was appointed under the presidentship of Special Chief Secretary for Social Welfare SS Rawat to set up units and prepare an action plan to provide employment to youth.
The third committee was appointed under the presidentship of Panchayat Raj Commissioner B Ramanjaneyulu to improve industrial infrastructure in the State.
He said that these three committees will submit their recommendations within three weeks to prepare an action plan for implementation of several schemes.
Ministers Devineni Umamaheswara Rao, Prathipati Pulla Rao and Kollu Ravindra, SC Finance Corporation chairman Jupudi Prabhakara Rao, SLBC convenor Suresh N Patel and others were present.
