Govt Schemes: Take steps to achieve loan targets says Collector to pvt banks

Chittoor: Chittoor District Collector Sumit Kumar has raised concerns over private banks like HDFC, Kotak and ICICI failing to meet the loan targets allocated for various Central and State government schemes.

Speaking at the DCC and DLRC meeting organised under the leadership of the Lead Bank on Tuesday, the Collector emphasised the pivotal role banks play in the district’s comprehensive development and urged them to align their efforts toward achieving set goals.

The Collector highlighted the indifference of private banks in disbursing crop loans and short-term production loans to farmers. He stressed the necessity of banks ensuring timely financial assistance to farmers to support agricultural investments and ease their burden.

The Collector urged banks to prioritise the implementation of schemes such as PM SVANidhi, Stand-Up India and insurance programmes like Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). He also called for increased awareness among bank officials to expedite loan approvals for eligible beneficiaries under these initiatives, ensuring the district’s agricultural, industrial, and economic progress.

For the fiscal year 2024-25, the district set a target of Rs 6,699 crore for priority sector lending by September 30. However, Rs 7,654 crore

was disbursed, surpassing the target. Of this, Rs 6,284 crore was directed to agriculture against the Rs 5,488 crore target.

As part of efforts to promote government insurance schemes, awareness campaigns are being held at village panchayats from October 10, 2024, to January 15, 2025. These programmes aim to increase participation in PMJJBY and PMSBY. Assistant collector Hima Vamsi, NABARD AGM Sunil, LDM Harish, DCCB CEO Manohar Goud, horticulture officer Madhusudan Reddy and other bank officials attended the meeting.