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4,040 crore loan target for Mahbubnagar district

4,040 crore loan target for Mahbubnagar district
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An amount of Rs 4,040.26 crore has been set as an overall loan target for Mahbubnagar district for the financial year 2018-19. During a bankers’...

Mahbubnagar: An amount of Rs 4,040.26 crore has been set as an overall loan target for Mahbubnagar district for the financial year 2018-19. During a bankers’ meeting here on Thursday, District collector Ronald Rose and other senior officials along with top bank officials released a comprehensive loan target plan for the year 2018-19.

Of the total loan targets, the district administration decided to set a loan target of Rs 2,349.99 crore for farm loans in the district. Of this the farmers will get loans of Rs 1,409.93 crore for this kharif season, while the remaining in the rabi season.

Apart from announcing major chunk of loans for agriculture sector, the District Collector also announced adequate share of loans to the allied, small and medium scale industries, housing, education and other priority segments in the district.

The Collector in the presence of bank officials from all leading banks, representatives of Reserve Bank of India (RBI), and officials of NABARD released the comprehensive loan target for the district.

The farmers will get loans from all the 28 banks and their 165 branches located in urban, semi-urban and rural areas in various parts of the district. “This year during karif we have decided to set a target of providing loans amounting to Rs 1,409.93 crore to 1.67 lakh farmers holding accounts at various banks in the district. We have issued strict instructions to the bankers not to create any hurdles for the farmers while giving loans,” said Ronald Rose.

This year the government decided to give loans to farmers sowing 14 varieties of crops like cotton, maize, paddy, jowar etc. The other sectors which are given loan targets include Rs 412.29 crore for term loans, another Rs. 111.03 crore for improving the basic amenities in the agriculture sector. For agriculture and allied sector, the government planned to give Rs 310.76 crore for this year.

Similarly, Rs 418.05 crore was allocated for small and medium scale industries in the district. For other priority sectors like education, health etc, the government decided to give a loan target of Rs 119.16 crore for the year 2018-19.

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