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Banks told to extend cooperation for govt schemes

Banks told to extend cooperation for govt schemes
Highlights

As the general elections are coming close, the State government has directed the administration in all districts to take action against the banks which were not supporting the State government schemes

Visakhapatnam: As the general elections are coming close, the State government has directed the administration in all districts to take action against the banks which were not supporting the State government schemes.

The government directed the Collectors to withdraw all the government deposits from those banks. It has also directed the Collectors to make it clear to the management of banks that the government would not cooperate for the recovery of loans sanctioned earlier.

Collector Pravin Kumar informed all the bankers in the district at the District Consultative Committee meeting here on Tuesday that the bank deposits would be withdrawn immediately, if the banks do not extend cooperation for the government schemes.

Even though the government sanctioned loans under Economic Support and Aadarana Schemes and deposited the subsidy amounts, the bankers are not sanctioning the loans to the beneficiaries on the pretext that some schemes are not viable.

With this, the applicants who applied for various self-employment units are approaching the welfare departments pointing out the non-cooperation by bankers.

According to Collector Pravin Kumar, majority of the units sanctioned during 2016-17 are still pending with the bankers. Recently at the phase-1 Mega Grounding Mela, large numbers of units were sanctioned, but still majority of the units are not grounded as the applications are pending with the banks.

The Collector informed to the banks, which were not cooperating with the government that the Chief Minister categorically directed the administration to withdraw the government deposits and also made it clear that the government would not cooperate for recoveries of the loans which were sanctioned earlier.

Giving a last chance to the banks, the Collector directed the managements to clear all the pending loan applications to ensure all the units are grounded by December 28. The second phase of the mela is aimed at grounding 14,226 units’ worth Rs 90.97 crore. Chief Minister N Chandrababu Naidu is coming to the mela, Collector said.

The Collector also informed the bankers that all the units should be grounded before the MSME Conclave to be held in Tirupati on January 13.
Talking about the sanction of loans for the cattle, the Collector directed the bankers to sanction the loans to purchase the cattle from Haryana. The cattle should be distributed to the beneficiaries on December 28, he added.

MSME Conclave – Big Target: The government has given a target for sanction of loans to the tune of Rs 200 crore to the MSME units. The government has directed the administration and banks that the units would be announced in the MSME Conclave to be held at Tirupati on January 13.

The banks sanctioned loans to the tune of Rs 64 crore and another Rs 65 crore worth of applications are pending with the banks. The Collector directed the bankers to make arrangements to distribute the sanction letters to the beneficiaries at the MSME Conclave.

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