General Managers of various banks admitted before the chairman of AP State Minorities Corporation Mr. Abid Rasool Khan that they had to complete the target of 15% loans to Minorities but they could provide only 5% loans to these communities. However, they promised that they will take steps to ensure to complete the target. They said they would issue instruction to their branch managers to issue loans to Minorities to achieve the target.
Mr. Abid Rasool Khan had convened a review meeting of the bankers to examine the progress of sanctioning loans to Minorities, in his chamber in Secretariat yesterday. It is reported that 15 Dy. General Manager attended the meeting. They said that they would seek cooperation from Minorities Commission in finalizing the loans. They also told that as per the rules and regulation of Reserve Bank of India, students can open their saving banks accounts with zero balance but some banks violate this rule. The bankers promised that they would ensure that such complaints do not occur. The bankers informed the Chairman that a loan upto Rs.15 thousand could be sanctioned to Minorities with out any surety. In the same manner, students can get loan upto Rs. 4 lakh without any guarantee. Minorities do not know about this about this facilities. They also told that when Minorities Finance Corporation provides Margin money for loan schools to Minorities, the banks can not refuse the raining money of the loan. If the loan is Rs.4-7 lakh, the guarantee of 2 persons is sufficient. If the loan exceeds, Rs.7 lakh, then it becomes necessary to provide collateral security of poperty.
It was reported that for the few years, the mangers were reluctant to furnish the details of the loans sanctimonies to Minorities. The Chairman told that if there are any complaints about the banks not sanctioning the loans or creating problems to Minorities, it should be brought to the notice of the Commission. For taking further action. If any complaint has to made against any bank employee, the State level bankers committee could be contacted. It is said that this meeting was a unique one and it has no precedent in the past.
–Siasat News