Andhra Pradesh: YS Jagan asks bankers to focus on loans to tenant farmers

Andhra Pradesh CM Jagan said the state's economy had slowed down due to the covid outbreak. He said that the distribution system and employment avenues were damaged, however, he opined that the state was performing efficiently with the help of bankers. The Chief Minister met the State Level Bankers' Committee at the CM's camp office in Tadepalli.

The chief minister said that in 2020-21, the country's GDP fell by 7.25 percent, while in AP it fell by only 2.58 percent. He said term loans were down by Rs 3,237 crore compared to last year and the loan disbursement was 1.32 percent less than the crop sector. CM Jagan asked the bankers to focus on loans to tenant farmers. He said that RBKs should be digitalized completely. He urged the cooperation of bankers for women's empowerment and asked the banks to take the initiative to provide a loan of Rs 35,000 for the construction of the house.

The chief minister said that if banks lend money for 3 percent interest, the rest of the interest will be paid by the state government. The CM urged the bankers to lend to small traders and MSMEs as each industry employs at least 10 to 20 people. "I want the bankers to give them adequate support, "said CM Jagan. The SLBC meeting was attended by state finance minister Buggana Rajendranath Reddy and agriculture minister Kursala Kannababu.