SLBC meeting: Bankers urged to encourage MSME sector for overall development
No one should approach private lenders for loans, banks should come forward to sanction loans in a big way:CM
Amaravati:Chief Minister N. Chandrababu Naidu appealed to bankers to extend support to MSMEs and especially the MSMEs belonging to BC, SC, and ST communities.
Presiding over the 233rd and 234th State Level Bankers’ Committee (SLBC) meetings at the State Secretariat today immediately after returning from Davos visit, the Chief Minister reviewed the implementation of the Annual Credit Plan for 2025–26 and also reviewed the progress of MSME and agricultural loans. Bankers informed that so far, loans amounting to Rs 2.96 lakh crore have been extended to agriculture and allied sectors under the Annual Credit Plan. They also informed that agricultural loans worth Rs 1,490 crore were provided to tenant farmers and loans amounting to Rs 95,714 crore were sanctioned to MSMEs.
Speaking on the occasion, the Chief Minister said that with credibility, loans can be availed at lower interest rates and the government making efforts for credibility and branding. He said loans worth Rs 2 lakh crore in Andhra Pradesh can be rescheduled and so far loans worth Rs 49,000 crore have been rescheduled, resulting in savings of Rs 1,108 crore.
The Chief Minister sought the support of bankers to expand natural farming. Bankers’ cooperation is essential for the development of MSMEs and other key sectors. Priority should be given to MSMEs that support weaker sections in business. If MSMEs are encouraged, not only the primary sector but also the industrial and service sectors will grow, leading to all-round development of the state, he added.
The Chief Minister said that the state government moving forward with the ‘One Family–One Entrepreneur’ policy and preparing plans to strengthen the service sector. No one in the state should be forced to take loans from private individuals.
Bankers should extend large-scale loans to the renewable energy sector, which is being prioritized by both the Central and State Governments. Bankers should also take note that DISCOMs are providing counter guarantees. We envision Amaravati as a hub for financial institutions. Banks and other financial sector institutions are setting up offices here. Recently, foundation stones were laid for offices of 15 banks, and the construction work must gain momentum and be completed swiftly.
Banks are levying around 15 types of charges on DWCRA group bank accounts; these charges should be reduced. Now, we are providing complete security to land records by issuing QR code-enabled Pattadar Passbooks. Bankers should also consider introducing a QR code system for bank accounts. Going forward, District Collectors should also be invited to State Level Bankers’ Committee meetings,” the Chief Minister suggested.
The bankers informed the Chief Minister that various banks are supporting entrepreneurs who are starting industries through the Ratan Tata Innovation Hub. They stated that Union Bank is supporting the headquarters of the Ratan Tata Innovation Hub in Amaravati.
SBI and Bank of Baroda are supporting the Rajahmundry spoke hub, Canara Bank the Anantapur spoke hub, Punjab National Bank the Visakhapatnam spoke hub, Indian Bank the Tirupati spoke hub, and HDFC Bank the Vijayawada spoke hub. As the lead bank, Union Bank has also contributed Rs 10 crore from its CSR funds to the Ratan Tata Innovation Hub.
Ministers Payyavula Keshav and Kondapalli Srinivas, Chief Secretary K Vijayanand, Union Bank MD, RBI Regional Director, NABARD GM, representatives of various banks were present.
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