Trust farmers, give loans: Collector Narayana Reddy

Nizamabad: Stating that Telangana people are creditworthy and has the good habit of repaying loans on time, District Collector C Narayana Reddy suggested the bankers to give them loans by taking them into confidence.

He inaugurated Federal Bank branch at Raja Rajendra Chowrasta in the town on Wednesday. The Collector, chief guest on the occasion, said that banks should be socially responsive and should lend money to farmers for taking up small businesses. He said anyone will do business for profits only, but at the same time one should think of the good of the society.

Banks will work for the economic development of the people and people and banks should have good relationships to strengthen the community financially, the Collector stated. Capital investment banks must provide loans to protect the agricultural sector while developing the business. He said that bankers will continue to support agriculture in the direction of development and that the sector will grow and thereby strengthen the country economically.

Narayana Reddy said that if the farmers repay the loans on time, then the bankers also will come forward to give them loans again. He urged the farmers not to become defaulters. He advised the people to take advantage of the bank loans and repay them as bank interest rates are lower than that in the market.

Bank officials Jalandhar, Mahipal Reddy, Nandakumar, Raj Narayana, LDM Jaya Santoshi and others were present at the inaugural programme.