Bankers told not to remit benefits into loan accounts: Collector MV Seshagiri Babu

Nellore: District Collector MV Seshagiri Babu directed the bankers not to remit the money received under various welfare programmes into the loan accounts of the beneficiaries.

He addressed the District Level Bankers Meet in the city on Thursday and said the amount has to reach the beneficiaries as desired by the government. He said in such cases the very aim of the welfare scheme will be diluted and directed them not go for earlier loans while depositing financial assistance from the government.

He asked the bankers to deposit amounts under YSR Pension Scheme in scheduled instalments into accounts of the tahsildar or MPDOs. The Collector released the Potential Linked Credit Plan for 2020-21 during the meet.

Gudur legislator Dr V Varaprasad Rao said that poor and minority people are not getting loans as expected. He asked the banks to explain reasons to the beneficiaries while refusing loan applications. Joint Collector-2 A Kamala Kumari, AGM of Nabard Ravi Singh, LDM YV Ramprasad Reddy and others were present.