VIJAYAWADA: The Union Bank of India (UBI) has planned to disburse loans to a tune of Rs 5,000 crore for farmers and traders affected by the cyclone, floods and Covid in the State, chief general manager V Brahmananda Reddy said.
Addressing a press conference at the bank’s field general manager’s office here on Tuesday, Brahmananda Reddy informed that of the total, loans to a tune of Rs 1,000 will be provided to the farmers under Kisan Tatkal Scheme, Rs 1,500 crore for Self Help Groups and Rs 2,000 crore for small, micro and medium industries.
A detailed list with 15,800 people eligible for getting instant home loan in Vijayawada region was prepared by the officials. Customers who pay home loans regularly would be provided another loan of up to Rs 15 lakh without any mortgage, the chief general manager said.
He further observed that farmers, SHGs and traders in Kadapa, Anantapur, Nellore and Chittoor were badly affected due to the floods, cyclones and Covid. He said to restore their operations immediately and for economic progress, agriculture and business activities, the bank has decided to provide loans.
Under Kisan Tatkal Scheme, Rs 50,000 immediate loan will be provided to the farmers up to 50 per cent of the crop loan without any collateral. In rural areas, SHGs will be provided loans upto Rs 20 lakh and Rs 10 lakh in urban areas, he informed.
For micro, small and medium-sized industries which are reeling under the Covid crisis, the bank will provide an instant loan of 30 to 40 per cent to industry categories under Covid Emergency Credit Scheme. All these measures will be useful to improve the economic condition of the state, Reddy opined.
Deputy zonal head and deputy GM K Srinivasulu Reddy, city regional head and Deputy GM V Ramesh and other bank officials were also present.