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The annual credit plan of nearly 45 participating banks for 2018-1919 was launched Thursday on the occasion of a meeting of the Committee of State Banks (SLBC) with an expense of Rs 1.36 lakh crore, up to Rs 22 380 crores compared to last year
The plan covered priority sectoral loans up to Rs 92.748 crore (68%), of which agriculture alone accounted for Rs 58,063 crore. In 2017-2018, the target for agricultural loans was Rs. 50,466 crore but the achievement was only Rs. Finance Minister Eatala Rajender, unveiling the plan, asked the banks to increase their network of branches and labor in rural areas that the state was about to grow in agriculture with the Kaleshwaram Lift Irrigation Project link with mid-Manair project this year. Even dry crops will receive water as part of the project. He also wanted the banks to liberalize the loans because the government will give guarantees. Regarding the investment support program "Rythu Bandhu", Mr. Rajender said that he had eliminated the tightening of liquidity in the banks while the Reserve Bank of India pumped in Rs. 3,000 crore into the banking system in the state.
Principal Secretary for Agriculture C. Parthasarathi said Rs. 5,000 crores on the referred R's. 5,700 crores were pbaded on to farmers under Rythu Bandhu. He expressed his fear that agriculture may encounter problems in the drought-stricken areas of Mahabubnagar, Ranga Reddy, Nalgonda and Medak as the Meteorology Department of India had predicted 3% more or less normal rainfall. V. Sai Prasad said that the performance of some banks last year was bad. There were serious disparities between districts in loans. Banks did not share data with the finance department despite explicit instructions
The meeting was presented by S. Manikandan, coordinator of SLBC, about the banks' performance. last year
. on March 31 at Rs. 4.12 crores lakh, a growth of Rs. 17 248 crores (4.36%) in 2017-2018. Advances from all banks were Rs. 4.80 lakh crore with a growth of Rs. 87.679 crore in the year.
Banks lent Rs 21,026 crore to Kharif and Rs. 10,385 crore to Rabi
The Minister of Agriculture, Pocharam Srinivas Reddy, addressed the participants by telephone from the bed of the hospital, regretting that banks have insisted on security deposits even for loans of 20% of the unit cost. The President of SLBC and the Chief Executive Officer of the SBI, the Hyderabad Circle, Judge Swaminathan also took the floor
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