Annual credit plan with 12,257 cr prepared

Rajamahendravaram(East Godavari District): An annual loan plan of Rs 12,257 crore has been prepared in advance for agriculture, allied sectors, and small and medium scale industries in the district for the financial year of 2022-23, informed District Collector Dr K Madhavi Latha.

Special district consultative committee and district level bankers review meeting was held here on Friday, which was attended by MP Margani Bharat Ram, district consultative committee convener R Krishnaiah, lead bank manager Srinivasa Rao, NABARD DDM Somu Naidu and representatives of various banks.

The Collector asked the banks to cooperate on the issues set by the State government as a matter of priority and prioritise the items in the formulation of annual loan plan.

A sum of Rs 2,836 crore for Kharif crop as short-term crop loan, Rs 1,971 crore for Rabi, Rs 1,288 crore for agricultural term loans, and Rs 327 crore for agricultural infrastructure were finalised.

Rs 1,950 crore for micro, small and medium enterprises, Rs 66 crore for education, Rs 400 crore for housing, Rs 231 crore for other priority sectors, Rs 9,069 crore for the total priority sector, and Rs 3,188 crore has been earmarked for the non-priority sector. The Collector also asked for large-scale loans for housing and Tidco schemes. Bankers were requested to provide loans to the founders of industries and assist in the development of industries in the district.

Under Jagananna Thodu scheme, a loan of Rs 10,000 would be given to small traders and traditional artisans through banks and the State government will bear the interest of these loans, Collector Madhavi Latha informed.

MP Margani Bharat Ram said Mepma Bazaar in the district should be set up in crowded area with funds from MPLADS.

Lead Bank Manager S Srinivasa Rao said there were 33 banks in the new East Godavari district with 293 branches serving the people. He explained that steps would be taken to provide timely agricultural and non-agricultural loans in the district through these banks.

District Agriculture Officer S Madhava Rao, Union Bank of India DGM Krishnaiah, Bank of Baroda Senior Manager Upendra, Bank of India Chief Manager Srinivasa Rao, Canara Bank Senior Manager Ramachandra Rao, Indian Bank DZM K Ganapathy, Indian Overseas Bank Senior Manager Ramakrishna, Punjab National Bank senior manager Prabhakar Rao, other bank managers, officials, and others were present.