Nizamabad: Annual credit plan target of Rs 7369.32 crore approved

District Collector Narayana Reddy
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District Collector Narayana Reddy

Highlights

District Collector Narayana Reddy advised the bankers to provide crop loans as the highest priority, as agriculture is the primary occupation in Nizamabad district and not to use the Raithubhandu investment subsidy for recovery of other debts

Nizamabad: District Collector Narayana Reddy advised the bankers to provide crop loans as the highest priority, as agriculture is the primary occupation in Nizamabad district and not to use the Raithubhandu investment subsidy for recovery of other debts.

In a meeting with the bank officials that was arranged in his chamber on Wednesday, the committee approved an annual credit plan target of Rs 7369.32 crore to be provided by banks for the financial year 2021-22. Collector Narayana Reddy said he was happy with the loan disbursement of Rs 754 crore with 64% in the previous Yasangi season, and Rs 1162 crore with 84.9 per cent in the last Yasangi season.

The Collector said that the loans provided by IKP last year, were almost double this year and it is also commendable that it has reached the 100% target. Narayana Reddy said it was a good development that the district was ranked third in the State with 197 per cent in the MEGP scheme. He advised the bankers to be generous in granting loans to the farmers, as the district is largely dependent on agriculture and farmers should be financially advocated to achieve higher yields in this direction.

The Collector suggested that the development of women self-help groups should be considered in the financial status of the loan repayment status and increase the credit limit for them from time to time.

The collector asked the bankers to provide financial assistance to the rice millers for the 7 lakh metric tonnes of grain yield in Yasangi season. He also asked the bankers to encourage those who come forward to set up a rice mill as 40% of the mills are likely to be newly set up.

The meeting was attended by LDM Srinivasa Rao, NABARD DDM Nagesh, SBI RM Pallanraju, UBI RM Krishna, TGBRM Narayana, RCT Director Sudhindra Babu, District Agriculture Officer Govindu, Mepma PD Ramulu, SC Corporation ED Ramesh, District Industries Center DD Baburao, welfare department officials, bankers and others.

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