Extend farm loans on time, Harish to bankers

Addressing the 29th State Level Bankers Committee (SLBC) meeting here, the Minister unveiled a Rs 1.86 lakh crore annual credit plan for the 2021-22 financial year.

Hyderabad: Finance Minister T Harish Rao on Monday instructed the bankers to ensure that farm loans are extended on time to help farmers across the State.

Addressing the 29th State Level Bankers Committee (SLBC) meeting here, the Minister unveiled a Rs 1.86 lakh crore annual credit plan for the 2021-22 financial year.

Harish Rao said Chief Minister K Chandrashekhar Rao had accorded top priority to farmers’ welfare. In a week’s time, the State government had deposited over Rs 7,360 crore in the bank accounts of 61 lakh farmers under Rythu Bandhu scheme, he said.

The Chief Minister had specifically directed that Rythu Bandhu investment support being extended by the State government should not be adjusted against other loans and that it should be deposited into farmers’ savings accounts without fail. Banks should initiate measures in implementing these orders, the Minister said.

“Extending farm loans on time will help farmers buy seeds, fertilizers and meeting other requirements. Banks have been working during the pandemic and all measures should be taken to ensure vaccination for all the bank staff members,” he instructed.

Harish Rao also urged the bankers to extend more MUDRA loans for petty businessmen. The State government was promoting oil palm and millets cultivation extensively and has also expedited construction of special food processing zones, he informed the bankers.