Mahabubnagar DCCB to disburse Rs 60 cr loans to MSMEs: Minister

Srinivas Goud says that the State government took the decision to come to the rescue of vegetable/fruit vendors and owners of other micro and small businesses by disbursement of loans

By   |  Published: 14th Jun 2020  7:08 pm
Minister V Srinivas Goud speaking at the function of disbursement of Rs 1 cr loans to MSME owners through Mahabubnagar DCCB on Sunday.

Mahabubnagar: Minister for Excise and Prohibition V Srinivas Goud has said that the District Cooperative Central Bank of Mahabubnagar was planning to disburse  loans amounting to Rs 60 crore to people running MSMEs in the district.

Speaking at a function to disburse loans worth Rs 1 crore to hundreds of MSME owners on Sunday, he said the State government took the decision to come to the rescue of vegetable/fruit vendors and owners of other micro and small businesses by disbursement of loans through DCCB.

He has cautioned people not to take loans from private money lenders or daily finance persons and has instructed concerned officers to prepare a list of such unethical money lenders and book cases against them if they lent money on high rates of interest. He has also asked people to make their payments on time, so that tax-payer’s money could be lent to other deserving borrowers.

Under the supervision of DCCB, he said that daily and monthly finance would be given by the local PACS and those who need a loan could apply there with their Aadhar card and other documents. He said that micro enterprises would be given up to Rs 1 lakh loan and that 50 per cent of loans would be disbursed to poor people who were in dire need of loans during these difficult times.

He has urged the DCCB members to work honestly and has placed the responsibility of recovering the loans from borrowers on the PACS.

Mahabubnagar DCCB Chairperson Nizam Basha, addressing the gathering, said that this was the first time that non-cooperative members who owned micro and small businesses were being given loans, so that they could prosper too.

Assuring that all the debts of the past would be recovered by the bank soon, he said that borrowers could not only get loans from the bank, but would also make deposits in their DCCB accounts. Apart from crop loans, loan for development of agricultural land, loans would also be given for purchase of buffaloes and sheep by DCCB.


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