Guntur: Banks to sanction loans worth 30 crore

Guntur: A District Coordination Committee meeting was held here on Tuesday in which it was decided to sanction Rs.30,001 crore loans to various sectors in the 2020-21 financial year in the district. The meeting decided to sanction Rs.13,305 crore crop loans, Rs.3,436 crore loans to agriculture allied sectors, Rs.4,627 crore for setting up Small and Medium Scale Industries, Rs.1,902 crore for priority sector and Rs.7,001 crore to other sectors.

Addressing the meeting held at the Collectorate here, Joint Collector A S Dinesh Kumar directed the banks to liberally sanction the loans to agriculture sector, agro-based industries to make the farmers double their income by 2022. Reviewing the loans by the bankers to various sectors during the current financial year in the district, he said that during the current financial year the district administration had fixed the target of Rs.27,109.10 crore loans to various banks in the district out of which the banks have given Rs.18,987 crore loans to various sectors. He directed the banks to sanction loans according to targets fixed to them.He instructed the bankers to sanction crop loans and education loans. He recalled that bankers achieved 18.48 per cent in sanctioning education loans. He appreciated bankers for exceeding target in sanctioning loans to the Self-Help Groups. He suggested the officials to set up a sub-committee with the employees of the welfare departments with bankers to collect bad debts.

Andhra Bank Deputy General Manager M Srinivas, NABARD DDM Karthik, Lead Bank Manager P Venkateshwara Rao,Chaitanya Godavari Grameena Bank Chairman Kameshwara Rao and DRDA project director Yugandhar Kumar were among those participated.