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Banks asked to step up lending to weaker sections

Staff Reporter

ONGOLE: Prakasam District Collector Kantilal Dande on Tuesday urged public sector banks to increase the level of lending to the weaker sections of people including women self help groups and tenant farmers.

Inaugurating the 41st branch of the Syndicate Bank, the lead bank in the district at Guyndlapali Growth Centre near here, he noted with concern that banks had not been able to include all the poor people into the fold of basic banking services.

Stressing on “financial Inclusion'' of the vulnerable sections, he said each bank branch should compulsorily provide credit to at least five tenant farmers. Similarly, all eligible self help groups should be provided with bank loans to the maximum extent.

He distributed cheques for Rs. 53 lakhs to 30 SHG groups and Rs.50,000 each to two tenant farmers. Forty other farmers were provided loans for Rs. 1 lakh each on the occasion.

Syndicate Bank Deputy General Manager Srirami Reddy said as many as 110 Joint Liability Groups had been provided with bank linkages in the district. The bank's priority sector lending in the district stood at Rs. 650 crore, including Rs. 542 crore lending to the farm sector.

National Bank for Agriculture and Rural Development Assistant General Manager M.P. Naresh Kumar exhorted the rural people to make best use of the loaning programmes of public sector banks to attain economic self-sufficiency.

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