Bhatti: Bankers lag behind in extending fresh crop loans to farmers
HYDERABAD: Deputy Chief Minister Mallu Bhatti Vikramarka asked bankers to be considerate towards farmers and the underprivileged sections and not confine themselves to mere statistics and calculations.
He expressed disappointment that they had given fresh crop loans to farmers amounting to only Rs 7,500 crore till date even after the state government had recently disbursed Rs 18,000 crore to banks towards the farmers' crop loan waiver scheme.
He was addressing the state level bankers committee (SLBC) meeting at Praja Bhavan here on Tuesday.
Elaborating on the development and welfare goals of the state government, he said that they have decided to develop rural areas in a fast-paced manner towards which it has taken up construction of regional ring road (RRR). He pointed out that funds are being allocated for expediting the completion of major and medium irrigation projects. In addition, the government is also extending 24-hour free power and farmers are being relieved from their debt burden.
Bhatti Vikramarka said that along with agriculture, priority was being accorded to the industrial sector by way of industry-friendly innovative policies. Stating that small and medium scale industries generate many employment opportunities, he asked the bankers to sanction loans liberally to MSMEs.
He also sought bankers’ help in extending interest-free loans to Self Help Groups (SHGs) under the Indira Mahila shakti scheme for industrial development. The state government intends to give `one lakh crore interest-free loans to SHGs in five years, he said.
The Deputy CM expressed his happiness over the encouraging performance of banks in the first quarter of the financial year 2024-25 towards advances to priority sectors. Appreciating the bankers, he said that in the first quarter itself 40.62 per cent of the annual credit plan for the priority sector was achieved. Significantly, the state’s cash reserve ratio improved to 127.29 per cent in the first quarter.
Increase in paddy production would help the state to emerge as the top supplier of paddy to Food Corporation of India (FCI), he said.
Vikramarka said that the government would extend all required help to boost oil palm cultivation in the state. He hoped that bankers would exceed the credit plan target in the coming quarter of the financial year.
General manager of State Bank of India and SLBC convenor, Prakash Chandra Borar presented a report on the performances of banks in Telangana for the quarter ended June. He said that the total deposits of banks grew by Rs 2,005 crore and touched Rs 7,81,959 crore, while total advances with banks grew by Rs 16,289 crore and touched Rs 9,95,348 crore.
Overall, banks have disbursed Rs 1,00,731 crore to the priority sector and achieved 35.9 per cent of targets, he said.
