Banks should extend their services to all sections of society in Andhra Pradesh to help them attain financial autonomy, said Chief Minister N. Chandrababu Naidu here on Tuesday.
The banking services should be extended to give boost to employment generation and economic activity in the State. Explaining that the government’s priority is the primary sector – agriculture and allied activities- the Chief Minister said he wanted to make agriculture profitable and sustainable in A.P. This will help in revenue generation,” he said.
Mr. Naidu spoke at the State Level Bankers Committee meeting held at the Secretariat chaired by the SLBC convener and Andhra Bank CMD C.V.R. Rajendran here on Tuesday.
Earlier, Mr. Rajendran said the SLBC was hopeful of a change in the credit scenario in agriculture sector and looked forward to a drastic reduction in non performing assets in the sector.
He thanked the Chief Minister for advising farmers and borrowers during a meeting to repay the balance loan amount after receipt of debt relief amount under phase-I and get their loans renewed and avail loans at four per cent interest rate.
The government’s decision to release full amount to the borrowers with outstanding amount of up to Rs.50,000 would go a long way in mitigating the problems of small and marginal farmers. He also suggested that farmers needed to be educated about the process of debt redemption in a phased manner.
Setting the tone for the meeting, the Chief Minister suggested that the bankers should come forward with new ideas and plans setting aside the routine agenda to help the successor State develop in all the sectors, particularly in food processing, tourism, handicrafts, garment and apparel units.
Asserting that all the benefits under the public welfare schemes were reaching beneficiaries through banks due to Aadhar linkage, the Chief Minister requested bankers to ready themselves for phase 2 of the debt redemption programme.
The bankers should also partner with the government in its two prestigious flagship programmes- Smart AP and Skill Development Mission. Noting that different banks levy different service changes, Mr. Naidu asked bankers to explore the possibility of bringing them down.
