In the 188th State Level Bankers Committee (SLBC) meeting held at the Secretariat today, Chief Minister N Chandrababu Naidu said banking services should reach every person in the state.
The Chief Minister has asked bankers to improve banking services which will give a boost to employment generation and economic activity in the state. “Give more education loans. This will help in revenue generation,” he added.
President of SLBC, AP and CMD of Andhra Bank C.V.R. Rajendran said to the Chief Minister that the SLBC hopes for a change in the scenario of credit in agriculture sector and look forward to a drastic reduction in NPAs in the sector. He thanked the Chief Minister for advising farmers and borrowers during a meeting to repay the balance loan amount after receipt of debt relief amount under phase – 1 and get their loans renewed and avail loans at 4% interest rate. He added that the government’s decision to release full amount to the borrowers with outstanding amount of upto Rs50,000 will go a long way in mitigating the problems of small and marginal farmers.
The SLBC chairman also suggested that farmers need to be educated about the process of debt redemption in a phased manner.
Shifting from the routine agenda, the Chief Minister suggested bankers to disburse loans to those setting up food processing units, food parks, tourism-related services, handicrafts, garment and apparel units. He added that the farmers interested in drip and sprinkler irrigation units also should be given credit. “Explore lending options to those interested in setting up boating units on the coast between Kakinada and Chennai,” the Chief Minister said.
Explaining that the government’s priority is the Primary Sector (which focuses on agriculture and allied activities), the Chief Minister said he wants to make agriculture profitable and sustainable in AP. He also suggested bankers to work with the Farmers’ Empowerment Corporation on the debt redemption scheme and track its progress. He added that DWCRA women too will soon get the benefit of debt redemption programme.
Stating that all the public welfare schemes benefits are reaching beneficiaries through banks due to Aadhar linkage, the Chief Minister requested bankers to ready themselves for phase – 2 of the debt redemption programme. He has also asked them to take part in the government’s flagship programmes – Smart AP and Skill Development Mission.
Given that different banks levy different service charges, the Chief Minister asked bankers to explore the possibility of bringing down service charges. (INN)