The Hindu : Andhra Pradesh News : Loan disbursals yet to see the light of the day

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Thursday, Jun 28, 2007
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Andhra Pradesh

Andhra Pradesh

Loan disbursals yet to see the light of the day

Staff Reporter

Bankers pulled up for three-year delay in giving loans to ILDP beneficiaries

For the downtrodden: Medak Collector B.Venkatesam addressing the district- level bankers meet at the Velugu office in Sangareddy on Wednesday. Nabard AGM Krishna Murty is also seen.

Sangareddy: Medak District Collector B.Venkatesam asked the bankers to provide loans to beneficiaries who have received the approval documents from the hands of none other than the Prime Minister himself.

Addressing the district-level bankers’ meet at the Velugu office here on Wednesday, the Collector took a serious note on the compliant made by Narsapur legislator Sunitha Laxmareddy that many of the banks in her constituency refused to give pre-approved loans meant for the development of the land handed over by Prime Minister Manmohan Singh three years ago during his visit to Medak town. Approved loans under the ILDP along with 25,000 acres of land were handed over to the beneficiaries.

Target

The Collector asked the bankers to submit their ‘action-taken report’ by July 15. He warned that he would be sending the reports to the Prime Minister’s Office with a copy to the Reserve Bank of India.

However, Srinivasa Gupta the Lead Bank Manager pointed out that in most of the cases, the land distributed was found to be unfit for cultivation and agricultural loan. The Collector also set a target of distribution of 75 per cent of crop loans out of the kharif target of Rs. 315 crore by mid-July.

Weekly reports

The Collector wanted the bank controllers to submit weekly reports to the Collector’s office on every Monday and also to publish the same in newspapers. Pointing out that only 1.75 lakh out of the 4.75-lakh farmers were covered under the institutional credit system, he advised the bankers to speed-up the approval process.

Sheep loans

Speaking on the modalities of the Prime Minister and Chief Minister’s milch animal package for six districts in the State including Medak, Siddipet legislator advised the bankers to provide loans to those families whose applications have been rejected under Apadbandhu scheme.

He said that priority should be given to farmers who lost their sheep and cattle in natural calamities, than linking the scheme to milk chilling units to be set up in the district.

TRS legislators Padma Devender Reddy, S.Ramalinga Reddy, MLC R.Satyanrayana, NABARD AGM Krishna Murty and Velugu Project Director Srinivasa Baba were also present.

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