Lend for welfare schemes: Andhra Pradesh CM YS Jagan Mohan Reddy to bankers

The development programmes being implemented by the government are like oxygen to the BCs and weaker sections, he asserted.

Published: 08th January 2020 09:12 AM  |   Last Updated: 08th January 2020 10:29 AM   |  A+A-

Jagan Mohan Reddy

Andhra Pradesh CM Jagan Mohan Reddy (Photo | Express)

By Express News Service

VIJAYAWADA: Explaining the priorities of his government, Chief Minister YS Jagan Mohan Reddy has sought the cooperation of bankers in effective implementation of the welfare schemes in the State.

Addressing the 209th State Level Bankers’ Committee (SLBC) meeting in the Secretariat on Tuesday, Jagan elaborated on his government’s welfare schemes and development programmes intended for improving the living standards of people.

Hailing the bankers for opening unencumbered accounts intended to extend the benefits of schemes to the poor, he said over Rs 15,000 crore was transferred to the accounts of farmers, auto and taxi drivers, fishermen, weavers, AgriGold victims and the beneficiaries of YSR Law Nestham so far.

About Rs 6,500 crore will be transferred to the accounts  of mothers who send their children to school under the Amma Vodi scheme this month. He asserted that the development programmes being implemented by the government are like oxygen to the BCs and weaker sections.

Stating that 62 per cent of the State population depends on agriculture and the government is striving for the uplift of small and marginal farmers with the implementation of Rythu Bharosa, he said more such schemes could be implemented if the banks come forward.

"There is good monsoon this year and the government has extended aid to farmers through Rythu Bharosa. We hope that the State economy will improve with the growth of agriculture sector," he observed.

The SLBC records indicate that bankers are not providing loans to tenant farmers as per the target. Stating that the government has enacted an Act for tenants while protecting the rights of landowners through the cultivation agreement for a period of 11 months, Jagan urged the bankers to extend aid to tenant farmers as per the target.

Banks should also come to the aid of micro, small and medium enterprises (MSMEs) and efforts should be made to revitalise accounts under the YSR Navodaya scheme. He said that efforts should be made to achieve further progress in implementation of Pradhan Mantri Mudra Yojana, in which Andhra Pradesh stood 12th in the country.

Petty traders having identity cards should be given a loan of Rs 10,000 each and the initiative is expected to benefit 12 lakh traders in the State, he said. The Chief Minister also urged the bankers to lay emphasis on providing loans to self-help groups.

Interest-free loans are being given to women’s groups and farmers and the bankers should be liberal in provision of loans, he said. Pointing out that the previous TDP regime had failed to implement the promises made, the Chief Minister said the present government is committed to implementing all its assurances for the economic uplift of the downtrodden.

"One of the major proposals made by the government is linking of Godavari and Krishna rivers to divert the surplus water to the drought-prone Rayalaseema region. I am appealing to the bankers to go through the steps being taken by the State government for growth. We are controlling unnecessary expenditure and going ahead as per our priorities. All actions are being taken in the interest of the future of the State. We are having some dreams to achieve," he said.

Andhra Bank Managing Director and CEO and SLBC president J Packirisamy informed that out of the Rs 1,69,200 crore prescribed in the annual credit plan for the current fiscal, they have lent Rs 94,531 crore (55.87%) by the end of September, 2019.

Against the target of Rs 1,15,000 crore in agriculture sector, Rs 65,577 crore loans have been disbursed by the end of September.  He said that when it comes to MSMEs, Rs 25,020 crore (69.60%) has been given as loans by the end of September against the target Rs 36,000 crore.

RBI Regional Director Subrata Das said, "Andhra Pradesh stood top in the country in the credit-deposit ratio and the banks have performed well this year. For the primary sector, loan sanction has been done pretty well and also in almost all fields the targets have been achieved. In any village which has a population of 5,000, banking services must be provided. As of now across the State, there are only 11 villages with 5,000 population and do not have banking services. Banks should come forward to operate from those villages. In Kadapa district, all the transactions are being done on digital platforms and there is a need for the development of infrastructure in the banks to promote digital transactions." 

NABARD Chief General Manager Sevlaraj said the State government informed that different banks are giving loans at different interest rates for SHGs and added that banks should rationalise the rate while giving loans to SHGs.

Selvraj also said banks should lay emphasis on horticulture, fisheries and animal husbandry sectors, where low amount of loans were being given now. Finance Minister Buggana Rajendranath Reddy, deputy Chief Minister Pilli Subhash Chandra Bose, Agriculture Minister K Kannababu and others attended the meeting.

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