VIJAYAWADA: Chief Minister N Chandrababu Naidu has directed banks to take stronger measures to combat digital financial crimes and formulate a Standard Operating Procedure (SOP) to tackle cyber frauds, including the growing menace of “digital arrests”.
Chairing the 235th State-Level Bankers’ Committee (SLBC) meeting at the Secretariat on Friday, the Chief Minister released the Andhra Pradesh Annual Credit Plan for the financial year 2026-27. He said banks should respond swiftly to financial fraud cases and prevent victims from losing their money. He suggested the establishment of Central Transaction Monitoring Cells to detect suspicious transactions and strengthen fraud prevention mechanisms.
Under the Annual Credit Plan, banks have proposed disbursement of loans worth Rs 8.10 lakh crore across various sectors during the current financial year. Of the total outlay, Rs 5.40 lakh crore has been earmarked for priority sectors, including agriculture, while Rs 2.70 lakh crore has been allocated to other sectors. The plan includes Rs 3.60 lakh crore for the agriculture sector, including Rs 2 lakh crore towards crop loans. Banks have also proposed financial assistance of Rs 10,693 crore for agricultural mechanisation. The MSME sector has been allocated Rs 1.55 lakh crore, including Rs 70,000 crore for micro-enterprises. A sum of Rs 11,500 crore has been earmarked for housing loans, and Rs 2,500 crore for education loans.
Addressing bankers, the Chief Minister said banks should encourage MSMEs through liberal credit flow. The Centre is also advocating an auto-pilot mode for loan approvals. Through the Ratan Tata Innovation Hub, the State government is promoting startups and innovation. Banks should come forward to support deserving entrepreneurs, he said.
Naidu proposed the formation of a committee comprising bankers and officials to monitor credit disbursement and NPAs. He urged banks to extend greater support to the aquaculture sector, which has significant wealth-generation potential.The Chief Minister announced that the State government is prepared to provide an additional 4 per cent interest subsidy on education loans in convergence with the PM Vidyanidhi Scheme.
Naidu urged private sector banks to actively implement schemes like Stand-Up India.
The Chief Minister urged banks that have been allotted land in Amaravati to expedite construction of their offices in the Financial District’s proposed Bank Street.”Every bank should establish an iconic building in Amaravati. The RBI should also expand its operations in AP, he said.
Union Bank of India Managing Director and CEO Ashok Pandey, Chief Secretary G Sai Prasad, Director, Union Ministry of Finance Neelam Agrawal, RBI Regional Director AO Basheer, NABARD General Manager KVS Prasad, National ST Commission member Sunil Kumar Babu and other officials were present.