Banks sanction 87.66% loans to 3,57,290 vendors in Telanagana

Hyderabad: The State-Level Bankers' Committee (SLBC), Telangana, convened a bankers' meeting on Monday, coinciding with the visit of Additional Secretary, Ministry of Housing and Urban Affairs, Sanjay Kumar, to review the performance of banks under PMSVA Nidhi.

The meeting was attended by Amit Jhingran, CGM, SBI and president, SLBC; Dr. N Satyanarayana, Commissioner (MA&UD) and MD, MEPMA; Shruthi Ojha, Additional Commissioner, GHMC; Krishan Sharma, GM & convener, SLBC; State heads of public/private sector banks, RRBs, TSCAB

Jhingran, CGM, SBI & president of SLBC, stated that banks have done well in terms of sanctions/disbursals under PMSVA Nidhi tranche 1; they sanctioned loans to 357,290 street vendors, against 407,576 applications received (87.66%). As against the target of 340,000, banks have disbursed loans to 343,587 vendors (101%).

SBI, with a share of 143,026 (41.62%) and UBI with a share of 86,009 (25.03%) are major contributors in disbursals under tranche 1, (67%) disbursals in State; 96% of sanctioned loans have been disbursed.

Of the total sanctions made under tranche 1, the public sector banks contributed 80% sanctions, the RRBs 9% and private banks 3% of sanctions.

Under tranche 1, 12 districts have achieved beyond 90 percent; Medak, Jogulamba-Gadwal, Ranga Reddy, JS Bhupalapally, Suryapet, Sangareddy, Wanaparthy and GHMC achieved below the State average of 84.30% Under tranche 2, banks sanctioned loans to 56,767 vendors, against 84,876 applications received (67%) Sanjay Kumar advised controllers of banks to sanction pending applications and disburse all sanctioned loans on a mission mode latest by April 30. He said the State has been pan India no 1 in disbursals for a long time, but MP has taken over. He urged banks to try and regain the position.

Dr Satyanarayana requested PDs/dist mission coordinators and the lead district managers to make collective efforts and ensure that banks in districts expedite sanctions and disbursals. Krishan Sharma assured Sanjay Kumar that banks will clear pending sanctions in a week and disburse loans by April 30.