Bankers asked to ensure timely loans as per targets

Tirupati : In a significant move to bolster key sectors like agriculture, education and MSMEs, district Collector Dr S Venkateswar directed bank officials to ensure loans are issued as per set targets. He chaired the District-Level Bankers’ Committee (DLBC) meeting on Wednesday evening at the Collectorate, which was attended by Lead District Manager (LDM) Viswanatha Reddy, RBI LDO Poornima, Union Bank of India Regional Manager G Ramprasad, and officials from various banks.

During the review, the Collector emphasised that for the second quarter of 2024-25 fiscal year, loans should be prioritised for sectors like agriculture, education, MSMEs and food processing. He urged bankers to meet their lending targets and ensure crop loans are promptly issued to tenant farmers who possess crop loan cards. He also instructed agricultural officials to identify tenant farmers eligible for loan renewals and take necessary steps to facilitate the process.

Highlighting the need for food processing units in the district, the Collector directed banks to raise awareness and ensure no delays in loan disbursement. He called on bankers to focus on government-priority schemes and allocate loans accordingly. The importance of financial literacy programmes, specifically those promoting digital transactions was also stressed.

The Collector instructed bankers to actively register eligible individuals under schemes like the Pradhan Mantri Mudra Yojana (PMMY) and the Pradhan Mantri Jan Dhan Yojana (PMJDY). He urged them to ensure that all eligible beneficiaries receive new loans. Special emphasis was placed on achieving targets set under the Start-Up India initiative.

RBI lead district officer (LDO) Poornima highlighted the importance of promoting digital transactions in rural areas and advised bank officials to encourage digital payments among residents. Lead district manager (LDM) Viswanatha Reddy announced that customers who take housing loans and install rooftop solar systems can receive a subsidy of up to Rs 78,000 for loans amounting to Rs 2 lakh. The meeting was attended by NABARD DDM Sunil, DRDA PD TN Sobhan Babu, MEPMA PD Ravindra, DIC DD Maruthi Prasad, AP Agri Mission PD Satish and officials from both public and private sector banks.