Loan Mela: Banks sanction loans worth Rs 69.69 crore

• MP V Balashowry participates in a Credit Outreach programme

• Requests banks to sanction loans to imitation jewellery industries which are widely set up in the Machilipatnam

Machilipatnam: MP V Balashowry participated in a Credit Outreach programme at Machilipatnam on Thursday where the bankers sanctioned loans worth Rs 69.69 crore to the beneficiaries.

Speaking on the occasion, the MP said that they had organised the mega loan mela with the assistance of State Bank of India, Union Bank of India and Indian Bank.

UBI had sanctioned Rs 38 crore loans, SBI sanctioned Rs 29.50 crore loans and Indian bank sanctioned Rs 2.19 crore loans to the beneficiaries under Prime Minister Employment Generation Programme (PMEGP), Credit Guarantee Trust for Micro and Small Enterprises (CGMSE), Kissan credit cards and Mudra schemes during the programme.

MP said that Rs 13 crore were sanctioned in to 110 accounts under MSME and Rs 3 crore were given to the 34 units of PMEGP and Rs 22 crore were credited to the 264 Self-Help Group members.

He requested bankers to sanction loans to imitation jewellery industries which are widely set up in the Machilipatnam area.

Referring to the Machilipatnam Port construction works, the MP said that the port works are at brisk pace and added that the Power Finance Corporation has sanctioned around Rs 4000 crore for the port.

He urged the district Industries manager to organise an awareness meeting with the bankers over the industries which will be established in Machilipatnam area owing to the port construction.

Krishna District Collector P Rajababu, Union Bank of India GM and Zonal Head M Ravindrababu, SBI Machilipatnam Regional manager VV Phani Ram Kumar, Indian Bank Machilipatnam Regional manager VV RK Subramanyam, Lead Bank Manager TS Jayavardan and others were present.