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‘Don’t reject farm loan applications’

September 22, 2022 12:19 am | Updated 12:19 am IST - MANGALURU

Zilla Panchayat CEO H. Prasanna (centre) chairing a District Level Bankers Committee meeting at the ZP auditorium in Rajatadri, Manipal, Udupi district, on Tuesday.

Zilla Panchayat CEO H. Prasanna (centre) chairing a District Level Bankers Committee meeting at the ZP auditorium in Rajatadri, Manipal, Udupi district, on Tuesday. | Photo Credit: SPECIAL ARRANGEMENT

Udupi Zilla Panchayat CEO H. Prasanna on Tuesday took objections to banks rejecting loan applications of farmers being submitted through the Agriculture Department or keeping the applications pending indefinitely.

Stating that the Central and State governments have introduced a number of schemes to double framers income and for development of the agriculture sector, Mr. Prasanna directed the banks to sanction such loans without any demure. Also, banks should not make farmers visit branches frequently for availing of loans. Banks should strive to become farmer-friendly, he advised.

Chairing a District Level Bankers Committee meeting in Udupi, the CEO said that a similar direction applies to applications submitted for loan facilities under various other schemes of the Central and State governments. Loans should be sanctioned in a time-bound manner, he said. Such applications should not be rejected for silly reasons and banks should ask the beneficiaries to make corrections in applications, if needed.

Lead Bank Manager Pinjara said that branch managers do not have any right to reject applications for loans above ₹2 lakh and the authority vests with regional managers of such banks. Reserve Bank Manager Tanu Nanjappa cautioned banks and other financial institutions, both government and private, to ensure their loan recovery personnel do not use abusive language or harass customers. If such instances are reported to the RBI, the regulator will initiate stringent action.

Meanwhile, credit disbursement from banks in the district during the second quarter has been satisfactory, said Canara Bank’s regional manager Leena Pinto.

She said that ₹2,479 crore loan has been issued with 19.58% annual achievement. While the agriculture sector has been provided ₹589.68 crore loan, MSME has been given ₹501.1 crore, education ₹12.96 crore and housing ₹ 93.55 crore, she said. The credit to deposit ratio during the period stands at 48.86%, she said.

NABARD’s regional deputy manager Sangeeta Kartha, Union Bank regional manager Vasappa and others were present.

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