VIJAYAWADA: Chief Minister Y.S. Jagan Mohan Reddy sought bankers to cooperate towards implementation of government welfare schemes to empower weaker sections of the society. CM Jagan addressed the 213 State Level Bankers Committee meeting here on Friday. The Chief Minister expressed dissatisfaction over the disbursement of loans to leased farmers. Welcoming the achievement of 7.6% growth in the past three months, Mr Jagan sought bankers to concentrate on the doubling of farmers’ income.
Expressing dissatisfaction over poor coverage of tenant farmers, CM Jagan urged the bankers to come forward in providing loans to tenant farmers as they have been given Crop Cultivated Right Cards (CCRC). He said the bankers should support MSMEs as they play a key role in the financial sector and the banks should assist in restructuring of loans for MSMEs. He stated that the Government has paid Rs 1,100 crore subsidy amount pending to industries from 2014 and also fixed electricity charges during Covid were waived.
The Chief Minister said, “the Self Help Groups have deposited Rs 7,500 crore in their accounts for 2020–21. However, the interest paid by banks is only 3 per cent, but the same banks have been charging an interest of around 11 percent and 13 percent.” He asked the bankers to consider the fact that the government itself has been paying interest on timely paid loans. He told Bankers to inspire and motivate women through their programmes.
The Chief Minister said the state government has been implementing Jagananna Thodu scheme through which Rs 10,000 was provided as interest free loan to street vendors. The street vendors identified through Village/ Ward Secretariats are provided with ID cards and their work profiles are recorded. The government will pay the interest of the loans taken by the vendors from banks; he said and urged the bankers to come forward to support the street vendors. The Chief Minister said the state Government has been working to complete the construction of TIDCO houses at earliest and asked the bankers for their support.
The Chief Minister said it’s gratifying that 7.5 percent growth is registered in the last quarter and 99 percent of crop loans were given. He asked the bankers to focus on doubling farmers’ income, reducing investment costs, providing proper market facilities for the crops, and to support farmers at the time of natural disasters.
The Chief Minister said the Government has signed MoUs with the reputed companies like Amul, Allana, ITC, Procter & Gamble, HUL, and Reliance to collaborate and empower women beneficiaries of Cheyutha and Asara. He said committees were set up at village and ward level to support them. The State government has prepared a schedule for the distribution of cows, buffaloes, sheep and goats which already started. The Chief Minister asked the bankers to prepare an action plan as per that schedule to provide assistance to women. He directed the officials to liaise with the bankers to ensure that the distribution takes place as per the schedule.
Meanwhile, speaking at the conference, G Rajkiran Rai, SLBC President and MD of Union Bank of India hailed the State government initiatives and said the activities of banks and the financial assistance provided have reached the timely targets. He said the banks have given Rs 2,80,519 crore as loans in Primary sector as on September this year and it’s 64.60 percent of total loans. Loans to the agricultural sector stood at Rs 1,85,075 crore and this is 42.61 percent of the total loans, he said.
Ministers Botsa Satyanarayana, Kurasala Kannababu and Mekapati Goutham Reddy, Chief Secretary Nilam Sawhney, NABARD CGM Sudhir Kumar Jannawar , SLBC Convenor V Bramhananda Reddy and RBI Regional Director K Nikhila were present at the meeting. UBI GM Lal Singh, UBI MD, CEO Raj Kiran Rai joined through the video conference.
