Eluru: Bankers urged to give utmost priority to setting up MSMEs

Eluru : District collector V Prasanna Venkatesh expressed dissatisfaction over bankers rejecting the majority of applications received seeking employment under the prime minister’s employment guarantee programme. A district-level fourth quarterly meeting of bankers under the auspices of the lead bank was held here on Wednesday.

Speaking on the occasion, collector said that although there is a lot of emphasis on providing employment under PMEGP, bankers were not serious about it. Out of total 580 applications received, 223 have been rejected, of which only HDFC Bank has rejected 117 applications. He directed the concerned bank officer to submit a report by the next meeting stating that another 79 applications are pending.

Bankers should give utmost priority to setting up Micro, Small and Medium Enterprises (MSME) units in urban areas as well as rural and tribal areas in the district. He suggested that a meeting should be arranged with the ITDA PO especially for the establishment of units in the ITDA area.

All major bank branches in the district should come forward to set up at least two or three dairy units by the next meeting under PMEGP.

Organisations like Amul are ready to buy milk, thus the beneficiaries have the opportunity to repay their loans properly. The Department of Animal Husbandry and bankers should create awareness among the beneficiaries in the rest of the areas by portraying the success story of the dairy units already established under PMEGP. As part of this, SBI, Bank of Baroda and Union Bank of India should take steps to set up model diary units.

The beneficiaries should also be informed about the details of the subsidy of 25 per cent in urban areas and 35 per cent in rural areas under PMEGP for the construction of sheds and other infrastructure for the purchase of dairy cattle.

Financial literacy awareness programmes should be organised in colleges and schools during morning assembly and during lunch breaks in various industries.

Under YSR Jagananna Badugu Vikasam, 45 per cent subsidised loans will be provided to SCs and STs to set up employment units in the service and manufacturing sectors. DCC Convenor, Union Bank of India Regional Head M Gopalakrishnamurthy said that for the year 2023-24, by December Rs 5,817 crore short-term agricultural loans have been provided.

RBI’s LDO Purnima NABARD DDM Anil Kant, LDM D Niladri, DRDA PD Dr R Vijayaraju, District Agriculture Officer Y Ramakrishna, Animal Husbandry Department JD Dr G Nehrubabu, MEPMA DP Emmanuel, Horticulture DD Rammohan, District Minority Welfare

Officer NS Kripavaram, officers of various departments, district coordinators and managers of various banks were present.