Agricultural loans to the tune of Rs 5.75 lakh crore would be sanctioned during this calendar year, informed Union Finance Minister P Chidambaram here on Sunday.
Speaking at the inaugural function of new branches of the State Bank of India at Sivagangai Collectorate and Silukkupatti on Sunday, he said that around 7,000 branches of several banks were being opened every year in the country and these branches helped in disbursing education loan, maternity assistance. Adding to these, the branches would also play a key role in transferring direct benefit transfer to beneficiaries.
Informing that 46 districts have been covered so far under the scheme he said all the districts would be covered before the end of this year. Besides, all bank branches would be provided with ATM facilities before the end of current financial year, the Minister said.He further said that the cash accepter machine (CAM) would soon be installed along with the ATMs through which cash could be deposited in the bank account round the clock.
Detailing the measures initiated by the United Progressive Alliance (UPA) government in the banking sector, he said that due to the efforts of the government there was a remarkable increase in the banking service in the country.
Further the Centre was extending a housing loan of Rs 20,000 at 4 per cent interest under the Indira Housing Scheme. In addition to this, loans being given for construction of houses by individuals, for self-help group activities and education purposes.
Construction activities generate employment opportunities to several labourers. Similarly, as there is a constant demand for building materials production in this sector is also on a steady pace along with providing jobs to many persons, he underlined and added that this inter-linked process helps the growth of country’s economy.