Kerala CM Pinarayi Vijayan calls for more support from banks to ride over Covid crisis

The unconditional moratorium should be in effect until 31 December 2021. The CM asked the bankers to raise the issue with the RBI.

Published: 29th July 2021 08:57 PM  |   Last Updated: 29th July 2021 08:57 PM   |  A+A-

Kerala CM Pinarayi Vijayan

Kerala CM Pinarayi Vijayan (Photo | EPS)

By Express News Service

THIRUVANANTHAPURAM: Chief Minister Pinarayi Vijayan has called for more support from banks to face the COVID-19 crisis in the economy. He was speaking at the State Level Bankers Committee meeting here on Thursday.

The pandemic has created a big crisis in the unorganised sector, the CM said. The package announced by the Reserve Bank of India in May has relaxations for accounts which were not categorised as NPA before 31 March and those who have taken loans below Rs 25 crore. The state government has urged the Union Finance Minister to announce a moratorium for people and organisations affected by first wave and the natural disasters in previous years.

The unconditional moratorium should be in effect until 31 December 2021. The CM asked the bankers to raise the issue with the RBI.

The allocation for central government's emergency credit line guarantee scheme under the Atma Nirbhar Bharat Scheme has been raised to Rs 4.5 lakh crore. Banks should give maximum publicity to the programme and traders should benefit from this, urged the CM. Thirty-seven lakh farmers in the state are members of the PM Kissan programme. All farmers, dairy farmers, and fishworkers should get benefits under the programme. Agricultural loans should be sanctioned to people who cultivate on leased land as part of the state government's agricultural development programme, he added.

He asked banks to give assistance to eligible persons under the Agriculture Infrastructure Fund. Banks should assist the the agricultural producer organisations to be formed under the 100-day programme of the government.

Sufficient loans need to be sanctioned for the tourism sector. A favourable stand should be taken for the revival of the cashew sector. He also sought cooperation of banks for sanctioning loans to Kudumbashree groups. The CM also asked bankers to ensure that people don't lose their housing due to SARFAESI.

The meeting was attended by Finance Minister KN Balagopal, chief secretary VP Joy and Additional Chief Secretary (Finance) Rajesh Kumar Singh. 


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