Provide loans to poor, farmers: Minister Vemula Prashanth Reddy

Nizamabad: Both the country and banks will develop only if the poor and farmers are empowered, stated Roads and Buildings Minister Vemula Prashanth Reddy said. Speaking at district-level bankers review meeting at Pragati Bhavan meeting hall under the aegis of District Lead Bank, Minister Vemula, the chief guest, said some banks are causing trouble in providing loans to farmers and loans under self-employment schemes. One must remember that the banks were nationalised only to serve the people better, he added.

Informing that loans were given to 23% of crops during Kharif, he said that providing loans to the needy, especially the poor, should be considered as a social responsibility of the banks. He congratulated Indian Overseas Bank management for lending 92 per cent loans. The banks can give loans to the farmers as there are more possibilities of paddy and other crops' cultivation in 2.5 lakh acres with a good rainfall and filled up ponds and projects, he observed.

Banks should cooperate to ensure that every unit of land is covered by the government granting loans to SC, ST, Minorities under self-employment schemes. The bankers were directed to take steps to ensure all grinding was done in accordance with the grant by the end of December. He told all the eligible beneficiaries of Fasal Bima Yojana should take steps to avail the amount for a good purpose. District Collector M Rammohan Rao said that the proposed grinding of loans to the selected beneficiaries of SC, ST and Minority corporations has not taken place. Agricultural term loans are also offered for less.

Zilla Parishad chairman D Narayanan, Dadannagari Vittal Rao, MLC VG Goud, LDM Jaya Santoshi, MLC Lalitha, bankers and officials of various departments were present at the review meeting.