CPI(M) seeks bank credit for ryots

Staff Reporter

Bank officials promise fresh loans in August first week

Branch to open at Pamidi to facilitate ‘gold’ loans

ANANTAPUR: A delegation of the Communist Party of India (Marxist) led by district secretary G. Obulakonda Reddy on Tuesday apprised the Andhra Pragati Grameena Bank authorities of the farmers’ problems in getting bank credit.

APGB lead district manager K. Raghavendra and regional manager Prasada Raoboth assured the CPI(M) delegation that fresh loans would be sanctioned in August first week for farmers whose loans were written off last year. They also agreed to renew the existing loans even if the ryots repaid the interest and crop insurance premium.

Scale of finance

The bank would further implement the scale of finance fixed by the government for all bank branches. It would also improve infrastructure like battery back-up facility in branches. Enough number of agreement application forms would be supplied to all bank branches for implementing the hike in scale of finance. The APGB officiald also promised to make arrangements to open a branch at Pamidi for issuing gold loans to farmers in the area.

District secretary of AP Rythu Sangham P. Peddi Reddy, party activists Chandrasekhar Reddy, Nagaraju and Narapa Reddy comprised the delegation.

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