Extend loans to poor farmers: Eatala to bankers

Extend loans to poor farmers: Eatala to bankers
Highlights

Finance Minister Eatala Rajender and Agriculture Minister Pocharam Srinivas Reddy released the Annual Credit Plan for Agriculture for 2016-17 at the State-level Bankers Committee Meeting held here on Thursday.

Hyderabad: Finance Minister Eatala Rajender and Agriculture Minister Pocharam Srinivas Reddy released the Annual Credit Plan for Agriculture for 2016-17 at the State-level Bankers Committee Meeting held here on Thursday.

Speaking on the occasion, Eatala Rajender said that the welfare of the people was the top priority of the government and called upon the bankers to relax norms to ensure that all the poor farmers living in villages were covered under the government sponsored schemes.

He also said that the banks should offer loans to genuine beneficiaries rather than just focusing on reaching the targets. This, he said, would not only reduce the risk of Non-Performing Assets (NPA) but also ensure that the loans provided by the bank gave a new lease of life to the beneficiaries.

Minister Pocharam Srinivas said that the government was ensuring that small and marginalised farmers received maximum benefits compared to established farmers. Earlier, Managing Director of SBH Shantanu Mukherjee, who presided over the meeting, presented the performance report of banks in the State for the year ended March 31, 2016.

He said that Annual Credit Plan targets of 2015-16 have been surpassed by the banks in the State by 74 per cent. For the second consecutive year, the targets were exceeded by more than 50 per cent. The total deposits of the banks stood at Rs 3,57,318.55 crore with an increase of Rs 29,137.44 crore over the previous year.

Total advances of the banks stood at Rs 3,89,653.32 crore with a growth of Rs 3,5487.65 crore over the previous year. The total agricultural advances targeted for 2016-17 are at Rs 59,513.42 crore as against the total disbursals (2015-16) of Rs 34,189.45 crore. While Rs 31,976.23 crore has been earmarked for crop loans, Rs 18,047.16 crore is the target for agriculture term loans, Rs 1,141.58 crore for agricultural infrastructure and Rs 8,348.45 crore for ancillary units.

As against Kharif disbursal target of Rs 18,092.68 crore for the financial year 2015-16, banks have disbursed Rs 12,938.74 crore, recording an increase of 71.51 per cent. During the Rabi season, banks in the State have disbursed an amount of Rs 10,461.58 crore against a target of Rs 9,707.48 crore, an increase of 107.77 per cent.

During the financial year 2015-16, overall disbursement to short term agriculture loans was Rs 23,400.32 crore, an increase of 84.17 per cent. Against a target of Rs 9,852.08 crore, an amount of Rs 10,787.13 crore was disbursed as term loans to agriculture and allied activities, an improvement of 9.49 per cent over the target.

Special Chief Secretary Raymond Peter, Secretary of Finance Navin Mittal, Secretary of Agriculture Parthasarathy, Regional Director of Reserve Bank of India (RBI) RN Dash, Chief General Manager of NABARD Radhakrishnan, Chief General Manager (RB) of SBH V Viswanathan and General Manager of SBH & Convener SLBC Telangana V Thyagarajan were also present.

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