VIJAYAWADA: Soon after returning to the State from Davos on Friday, Chief Minister N Chandrababu Naidu directly went to the Secretariat, and chaired the 233rd and 234th State Level Bankers Committee (SLBC) meetings.
He reviewed the implementation of the Annual Credit Plan for 2025-26. The Chief Minister urged the bankers to extend financial support to MSMEs, especially those belonging to BC, SC and ST communities.
The bankers informed him that loans amounting to Rs 2.96 lakh crore have been extended to agriculture and allied sectors under the Annual Credit Plan so far. Loans worth Rs 1,490 crore have been provided to tenant farmers, and Rs 95,714 crore loans have been sanctioned for MSMEs.
Naidu said loans worth Rs 2 lakh crore in the State could be rescheduled, and so far loans worth Rs 49,000 crore have been rescheduled, resulting in savings of Rs 1,108 crore.
He sought the support of bankers to expand natural farming. “The cooperation of bankers is essential for the development of MSME and other key sectors. Priority should be given to MSMEs that support weaker sections in business. If MSMEs are encouraged, not only the primary sector but also the industrial and service sectors will grow, leading to all-round development of the State,” he observed.
The Chief Minister said the State government is moving forward with the ‘One Family - One Entrepreneur’ policy, and preparing plans to strengthen the service sector. No one in the State should be forced to take loans from private individuals, he asserted.
‘Banks should advance loans to renewable energy sector’
The bankers should extend large-scale loans to the renewable energy sector, which is being prioritised by both the Centre and the State government. The bankers should also take note that Discoms are providing counter guarantees.
“We envision Amaravati as a hub for financial institutions. Banks and other financial institutions are setting up offices in the capital region,” he said, mentioning that foundation stones were laid for offices of 15 banks recently.
“Banks are levying around 15 types of charges on DWCRA group bank accounts. These charges should be reduced. Now, we are providing complete security to land records by issuing QR code-enabled Pattadar Passbooks.
The bankers should also consider introducing a QR code system for bank accounts. Going forward, District Collectors should also be invited to SLBC meetings,” he suggested.
Bankers informed the Chief Minister that various banks are supporting entrepreneurs, who are setting up industries through the Ratan Tata Innovation Hub.
Union Bank is supporting the headquarters of Ratan Tata Innovation Hub in CapitalAmaravati.
SBI and Bank of Baroda are supporting Rajahmundry spoke hub, Canara Bank Anantapur spoke hub, Punjab National Bank Visakhapatnam spoke hub, Indian Bank Tirupati spoke hub, and HDFC Bank Vijayawada spoke hub.
As the lead bank, Union Bank has also contributed Rs 10 crore from its CSR funds to Ratan Tata Innovation Hub, they highlighted.