VIJAYAWADA: The loan target, which was Rs 1.40 lakh crore in 2022-23, has increased to Rs 1.68 crore, with a 20% increase in the loan plan target for the current fiscal (2023-24) compared to the previous fiscal, informed Finance Minister Buggana Rajendranath at the State Level Bankers Committee (SLBC) meeting at the Secretariat on Monday.
Asserting over importance of MSMEs, Buggana requested the bankers to lend loans liberally for MSMEs. He also suggested the bankers focus more on lending loans for the schemes related to PM Mudra Yojana and Stand-Up India.
Asking the bankers to prioritise sanctioning loans to street vendors under PM Street Vendors Atma Nirbhar Nidhi and PM Formalisation of Micro food processing Enterprises (PMFME) scheme under Atma Nirbhar Bharat Abhiyan, Buggana urged them to take initiative to ensure early approval of applications.
“In view of the amended rules in various schemes like PMFME schemes, steps should be taken to provide loans to all the applicants above 18 years of age.” Stating that Rs 517.86 crore was given as a loan to 67,422 tenant farmers by the end of June, Buggana sought the bankers associated with the Agriculture Department to extend more support to the tenant farmers.