Credit plan with 5454.18 cr released in Nizamabad

Nizamabad: District Collector MRM Rao had released credit plan with Rs 5454.18 crores for the financial year of 2019-20, at a meeting at Pragathi Bhavan in Nizamabad on Wednesday.

He explained that the main priority sector areas of agriculture and allied activities are to be provided with a loan of Rs 3949.08 crores. 2,45,650 members from primary sectors will be benefitted through this. 655 students will get student loans of Rs 65 crores.

The Collector urged the bankers to lend Rs 158 crores to build houses for poor people and suggested sanction of about Rs 150 crores for 2,100 units for the establishment of heavy, medium, small and micro industries.

Collector MRM Rao said that the banks should not use the amount, which the government grants under subsidies for beneficiaries to write-off loan dues.

LDM Suresh Reddy, RBI AGM M Venkatesh, SBI AGM Nayak, Ramesh, Bharathi, Udaya Prakash, Sandhya Rani, Shashikala, Govind, Ramulu and others were present during the meeting.