Mallu Bhatti Vikramarka | Photo Credit: File photo
Deputy Chief Minister (Finance and Energy) Mallu Bhatti Vikramarka sought the cooperation of bankers in the development of agriculture and allied sectors which are given top priority by the Congress government. Bankers should accordingly consider lending to farmers on humanitarian grounds besides prioritising loans to agriculture, housing and education sectors. Bankers should be socially conscious and responsible while disbursing loans to farmers and small businesses on time, he said.
Mr. Bhatti Vikramarka was speaking at the meeting of the State Level Bankers Committee here on Thursday. He expressed concern that the accounts of several farmers turned “irregular” owing to the policies of the previous government and bankers should take steps to provide fresh loans to them. Negligence on the part of banks to extend loans would prompt farmers to approach private lenders and they could take to extreme steps if they were unable to repay the loans. Banks should consider implementation of one-time settlement for Emu farmers who suffered losses.
The Deputy Chief Minister opined that it was not proper on the part of banks to opt for mortgaging properties of farmers and unemployed for providing loans to them and exhorted bankers to extend assistance to the youth aspiring for self-employment. Bankers should liberally extend their cooperation in making success the government’s scheme to offer interest-free loans to self-help groups women as the government would reimburse whatever was due to the banks. He lamented that there was no major progress in the issue of education loans as well as Kisan credit cards. Cooperation of banks to sections that generate wealth would enable the government to take the fruits of development to the last mile.
Agriculture Minister Tummala Nageswara Rao exhorted banks to extend their cooperation in taking forward the people-centric schemes launched by the government. Accordingly, agriculture and allied sectors should receive top priority in the disbursement of loans. Agriculture sector was important for the economic growth of the country and there would be a crisis in food supply if the sector was in losses. Bankers should come forward to assist entrepreneurs venturing into dairy sector.
