TS Govt urges banks to use online mode for crop loans

Hyderabad: Telangana Government has urged the banks to use the web land portal to sanction agriculture loans.

Addressing the Steering Committee meeting of State Level Bankers Committee (SLBC) here on Thursday, Special Chief Secretary B. R. Meena said that the State Government has brought in an ordinance amending the Records of Rights 1971 and now there is no need for the farmers to keep their pass books, copies of pahanis for obtaining agriculture crop loans as the same are made available online now. He requested the banks to use the web land portal for agriculture loans made available by Government of Telangana for loan charge creation by the banks in the State. He said that revenue records are available on line and the correctness of the revenue records can be verified by banks before sanctioning loans.

Banks can record their loan charge in the web portal which will avoid multiple financing from the banker’s point of view and fake passbook menace can be completely eliminated. He said that 21 banks have started using the portal and other banks which are into agriculture lending should start fully using the portal early.

The SLBC Steering Committee meeting, held at State Bank of India’s local head office, was presided by SBI CGM Hardayal Prasad and attended by BR Meena, Agriculture Secretary C. Partha Sarathi, Secretary Sandeep Sultania, SLBC Convener and SBI General Manager U. N. N. Maiya, RBI (FIDD) GM Dr. S. Subbaiah and RBI General Manager Meganath.

Agriculture Secretary C. Partha Sarathi requested the banks to step up the pace of crop loan renewals. He said that as per the data available, so far Rs. 6,056 crores has been lent under agriculture crop loan segment during the Kharif 2017 by banks covering 8,35,748 farmers in the State which is approx.25% of the target for Kharif 2017. He requested the banks to cover all the farmers under PMFBY, whose crop loans are renewed during the Kharif 2017 without fail.

Partha Sarathi said that insurance penetration this year should be at least 40% as envisaged by Govt of India. He said that a decision was taken with regard to cut off dates for Red chillies and Cotton under WBCIS to extend from 9th July and 15th July to 15th July and 31st July respectively. He requested the banks to take advantage of this and cover all the farmers especially cotton growing farmers under Weather Based Crop Insurance Scheme, since it is a major rainfed crop cultivated in Telangana State.

SBI CGM Hardayal Prasad reiterated while concluding the steering committee meeting that the important decisions taken in the interest of farmers on the above two issues of web land and Crop Insurance should be implemented by all the banks effectively.