Chief Minister N Kiran Kumar Reddy has requested for early release of funds towards relief in the Nilam Cyclone hit areas and said that the loss caused by the cyclone has been assessed preliminarily at about Rs 1550 crore. He was speaking at the joint meeting of the Chief Ministers and Chief Executives of Public Sector Banks and Financial Institutions at Bengaluru on Tuesday.
The Chief Minister thanked the Central Government for increasing crop loans target by Rs 1 lakh crore. He requested Central Government to extend interest subvention scheme to rescheduled crop loans also including for licensed cultivators. He also requested for reduction of premium rates under National Agricultural Insurance Schemes (NAIS).
Kiran Kumar Reddy requested that interest subvention scheme be made applicable to Stree Niidhi also. He said Banks are reluctant to sanction bridge loans to the beneficiaries and this hampering progress of the housing programmes in Andhra Pradesh. He requested the Chairmen of banks to meet the credit requirements of the deserving sections. He requested the top management of the bank to take steps to fill up the credit gap to the minorities.
The Chief Minister informed that the State Government was implementing several welfare schemes for the benefit of Minority Communities including scholarships for students. Under PM’s 15-Point Programme for welfare of Minorities, a target to 15 per cent within priority sector loans of banks has been stipulated, which is to be achieved by the end of March 2010. Though the disbursal of loans is improving, banks are unable to reach the target of 15 per cent in priority sector lending. The achievement is only around 7.50 per cent.
He requested the top management of the banks to take urgent steps to fill up the credit gap to the Minorities. (INN)