Bankers told to expedite kharif loan disbursement

Staff Reporter

SANGAREDDY: The Minister for Youth Affairs, T Harish Rao, has called upon banking institutions to speed up kharif loan disbursement process in Medak district.

Addressing the district-level bankers meeting here on Monday, he expressed dissatisfaction over the slow pace and said that only 20 to 30 per cent of the loans had been sanctioned by bankers so far. Giving details, the Minister said that only Rs 7 crores out of the Rs 220 crores set as target for the kharif had been disbursed by lending agencies.

The district Collector, B.Venkatesam, directed the State Bank of India, lead banker in the district, to ensure that at least loans of Rs. 1-2 crores were distributed every day so farmers would utilise that amount for agricultural purposes only. Implementation of schemes like Rajiv Yuva Sakthi, VAMBAY and other centrally sponsored programmes were reviewed during the meeting.

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