Minister stresses on 100% loan targets

Minister stresses on 100% loan targets
Highlights

The bankers in Mahbubnagar have achieved 66 per cent loan distribution to various sectors during the financial year 2015-16. From about a total target of Rs 4,204 crore of loans to be disbursed under various schemes, the district administration could achieve distribution of Rs 3,386.79 crore for the year 2015-16.  

Mahbubnagar: The bankers in Mahbubnagar have achieved 66 per cent loan distribution to various sectors during the financial year 2015-16. From about a total target of Rs 4,204 crore of loans to be disbursed under various schemes, the district administration could achieve distribution of Rs 3,386.79 crore for the year 2015-16.

However, the bankers and government agencies have yet to reach 34 per cent of loan targets. In a review meeting with bankers at Revenue Meeting Hall on Saturday, the Minister for Heavy Industries Jupally Krishna Rao gave a call to the bankers and officials in the district to work with coordination and ensure implementation of 100 per cent targets for the current financial year 2016-17.

While advising the bankers and the district administration to work in coordination, the Minister observed that banks should proactively come forward to implement 100 bank linkage schemes and should stand an example to others in the state.
“Never before in the past, the State government is providing 60-80 per cent subsidy on various schemes related to agriculture, agriculture allied industries and agriculture dependent sector,” said Jupally Krishna Rao.

The major hurdles in way of loan disbursing are lack of coordination between officials of different departments and identification of true beneficiary. The local politics and corrupt practices are also among the major reasons for not reaching cent per cent targets in the villages.

For creating awareness and to give a clear-cut road map to reach the targets, the bankers and officials were advised to start grounding the loan distribution scheme right from the beginning of this financial year. The district Collector was asked to conduct a seminar during this month for that purpose, the Minister said. Collector T K Sridevi said that till date the government had achieved 66 per cent of the target in the loan distribution under various schemes.

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