West Godavari secures third place in SHG lending in the State

Lead District Manager (LDM) S. Lakshminarayana has said the district administration and bankers launched a drive for improvement of the economic conditions of fishermen on the coast falling under Mogalturu and Narsapur mandals. He was speaking at a meeting in connection with distribution of wards to around 60 Branch Managers of different banks as a token of appreciation for their outstanding performance in SHG lending during the 2012-13 financial year.

The LDM said it was programmed to extend bank credit to the fishermen for purchase of boats and nets, a pair of which costs Rs. 60,000, in line with a plan of action drawn up by Collector and DCC chairperson G. Vanimohan.

The plan aimed to meet the credit requirements of nearly 500 fishermen from the two mandals for purchase of boats and fishing nets.

The communities, eking out their living by fishing in the Upputeru and the creeks, have been depending on the usurious money-lenders for their credit needs all these days without any access to bank.

Mr. Lakshminarayana said the recoveries from the fishermen were found to be unusually on a higher side in the coastal habitations.Citing an instance, he said his bank at Perubalem had advanced loans to the fishing communities for 160 boats and nets a year ago and 60 loans were cleared as of now, he added. The LDM also informed that the SHG-bank linked finance amounting to Rs. 5 lakh for each group was being extended to 650 groups, involving the fisherwomen in the two mandals.

The district received a shield from the authorities of the Society for Elimination of Rural Poverty (SERP) for securing third place in SHG lending in the State. The bankers extended a financial assistance of Rs. 710 crore to around 29,000 SHG groups over the target of Rs. 597 crore for 21,600 groups during the last financial year. The Collector honoured Andhra Bank Deputy General Manager and DCC convener V.M. Parthasaradhi for his role in crossing the annual targets.