The Hindu : Andhra Pradesh News : Bankers told to stick to lending norms

Online edition of India's National Newspaper
Sunday, Jul 04, 2004

Andhra Pradesh

Andhra Pradesh

Bankers told to stick to lending norms

By Our Staff Reporter

NIZAMABAD, JULY 3. The Minister for Rural Development, D. Srinivas, has directed bankers to sanction loans and provide employment generation schemes to the people below poverty line (BPL) and farmers as per Reserve Bank of India guidelines and instructions issued by the Centre.

Addressing the district-level bankers' review meeting at Pragati Bhavan conference hall this afternoon, the Minister called for change in the functioning of banks. They were nationalised to serve the poor but due to `selfish interests' of a few officers justice was not being rendered to the poor, he regretted.

He noted that farmers who avail themselves of loans do strive to repay their outstanding dues. Banks should come to the rescue of needy farmers, he said and asked officials concerned to expedite clearance of farm loans. He also said banks should look into the sufferings of artisans and provide suitable opportunities to them to earn livelihood.

The district Collector, D.V. Raidu, said the administration had distributed leaflets on the assistance provided to farmers. In all, 23,500 farmers had been identified and 4,000 of them provided Rs. 3.50 crore loans.

The Collector said 660 calls had been received in the helpline from farmers who poured out their woes. Many farmers complained that the interest rates on the loans taken five years ago had doubled and they were finding it difficult to clear the dues.

The Lead District Manager, Phaniraj Murthy, said Rs. 3.67 crore crop loans were disbursed last year. The Zilla Parishad Chairman, Pothangal Kishan Rao, the Bodhan MLA, P. Sudarshan Reddy, the Joint Collector, G. Venkatram Reddy, and senior district and bank officials were present.

Printer friendly page
Send this article to Friends by E-Mail

Andhra Pradesh