National Bank for Agriculture and Rural Development (Nabard) Chief General Manager Jiji Mammen on Friday expressed serious concern over fast disappearance of lush green paddy fields which were being converted into aqua farms.
Addressing a gathering of bankers and officials after inaugurating a financial literacy centre (FLC) at the office of the District Central Cooperative Bank (DCCB) here, he warned that the trend might raise serious food security concerns in the future.
He called upon the bankers to exercise caution while lending for aquaculture.
Meanwhile, the DCCB has kick-started a campaign for financial literacy in its operational area in West Godavari district with the inauguration of the centre.
Financial literacyIt is proposed to launch five more FLCs in different parts of the district as part of its endeavour to spread financial literacy among the residents in villages where banking facilities are not available, according to its Chief Executive Officer V. Phanikumar.
He informed that the financial literacy campaign was aimed at identifying the people still uncovered by banks, encourage them to open no-frills accounts in the nearest banks and letting them know of various products and financial services offered by banks.
The CGM said that the Nabard would extend technical assistance to the DCCB in conducting programmes for promotion of financial literacy by supplying the required material for the trainers. DCCB Chairman M. Venkateswara Rao, Andhra Bank Deputy General Manager D. Nagaraja Naidu and Lead District Manager S. Lakshminarayana participated in the programme.
