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Help implement Central schemes, banks told

Staff Reporter

Plea to liberalise formalities for taking education loans



Assessment:M.B. Rajesh, MP, addressing a meeting of the district-level banking review committee in Palakkad on Wednesday.

PALAKKAD: Banks in the State are not cooperating in the implementation of various Central schemes, M.B. Rajesh, MP, has

Inaugurating the district-level banking review committee meeting here on Wednesday, he said there were wide-spread complaints in the disbursal education loans.

“The Central government had repeatedly stated that it wanted banks to adopt a liberal education loan policy. There is big difference between the government's declared policy and its implementation by banks,” he said.

A realistic and liberal education loan policy was necessary due to the rise in number of self-financing colleges, he said. District panchayat president T.N. Khandamuthan called upon banks to invest more in agriculture as the district's economy was predominantly farm-based. The district needed farm mechanisation due to the shortage of labour, he said. The liberal sanctioning of agriculture loans does cannot be considered as investment in the sector.

That is why the huge loans granted do not reflect on productivity, Mr. Khandamuthan said. Canara Bank Deputy General Manager K.R. Balachandran said banks should take steps to address the concerns raised by people's representatives and others.

The Credit-Deposit Ratio in the district rose to 79 per cent as against the 72 per cent in the last financial year. The total deposits rose to Rs.12,278.73 crore in 2011 from Rs.10,630.87 crore in 2010, a 16 per cent increase.

The advances rose to Rs.9,696.90 crore in 2011 as against the Rs.7,703.88 crore in 2010, registering a growth of 26 per cent, he said.

Additional District Magistrate A. Shibu presided over the meeting.

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