It may not be untrue if a statement is made that banks are distributing loans to all communities but they are busy in collecting back the loans already sanctioned to the members of Minority Communities.
In the state level bankers’ committee meeting, a review was presented giving the details of the loans sanctioned by banks to each community. Chief Minister himself attended this meeting in person he issued instructions to bankers.
It has now become a tradition that C.M formally makes a mention of slow pace of sanctioning of loans to Minorities but no serious attempt has so far been made to review the loans sanctioned to Minorities.
Observing the lethargy of the Govt. officials, the bankers manipulate the figures. The fact is that most of the bankers have almost stopped sanctioning loans to Minorities.
As per the guidelines of P.M’s 15point programme, all the banks have to provide loans to Minorities up to 15%.
During the year 2012-2013, a target of Rs 82,167 has been allocated for sanctioning loans to Minorities. As per this allocation, banks in A.P have to provide loans to Minorities up to Rs 12325.05 crore. If the details are checked, it would be revealed that Rs 100 have been distributed to Minorities.
Last year, Rs 12716.83 crore were to be recovered from Minorities. This year, the amount increased to Rs 131,73.65 crore which means during the past three months, an excess amount of Rs 456.82 crore was shown as the amount to be recovered from Minorities. The bankers have not given any details of the loans sanctioned to Minorities but only the figures of the amounts to be recovered were shown. This excess amount is due to the interest charged on the amounts payable.
It clearly indicates that if Minorities don’t repay their loan amounts, they have to pay Rs 400 as interest during a span of three months.
As per the guidelines, banks have to distribute more than Rs 3,000 crore by the end of this financial year to Misnorities.
It shows that the banks have been sanctioning loans to the Minorities to the extent of less than 1% of the total loans sanctioned.
According to the statistics presented by A.P State Minorities Finance Corperation, it distributed only Rs 11.01 crore to 4817 applicants. The report shows that during the nine months of working of the corporation, it sanctioned only Rs 4.41 crore to the Minorities whereas the target fixed for sanctioning loans to Minorities is 21. This year, these loans have to be sanctioned in the remaining three months of the current financial year.
–Siasatnews