Chief Minister Y S Rajasekhara Reddy today asked bankers to grant crop loans to all eligible farmers in the State, including tenant farmers, by simplifying procedures and removing needless hurdles.
He specifically asked bankers to cover 5 lakh number new `non-loanee farmers’ during 2009-2010. “Under any circumstances, no eligible farmer should be denied crop loans on the pretext of rules and procedures,’’ the Chief Minister said, while interacting with officials on the eve of State Level Bankers’ Committee meeting to be held at Jubilee Hall tomorrow.
The chief minister pointed out that the banking sector could not achieve the target for crop loans during 2008-09 in spite of record agricultural production. The achievement was only 82.35 per cent during 2008-09. He wanted that the banks achieve the target for the year 2009-10 well in advance.
Reddy further suggested that crop loans to tenant farmers be substantially increased. He instructed the agricultural department to conduct farmers’ meets in all villages and send the list of tenant farmers to bank branches.He suggested that the government departments create opportunities for farmers to take up innovative projects under agriculture and allied activities by providing sufficient infrastructure.
He asked the officials to identify bankable schemes and formulate suitable programmes with subsidy component to enable the banks to provide loans under agricultural and industrial sectors. He wanted that the banks review the position of disbursements under Annual Credit Plan through their branches at regular intervals. He asked the officials to closely monitor loan disbursements and see that targets under the Credit Plan be achieved.
The chief minister said major focus should be given to horticulture schemes due to the ever increasing demand for vegetables. Similarly, the banks should finance dairy and sheep rearing schemes. He suggested that all farmers should be encouraged to take up dairy as a supplementary activity.
Reddy observed that aggregate advances of banking sector in the State at the end of March 2009 stood at Rs 2,10,294 crore, as against Rs 1,48,015 crores at the end of March 2008, registering a growth rate of 42.08 per cent during 2008-09. Agricultural advances by March 31, 2009 stood at Rs 51,487 crores constituting of 24.48 per cent of net bank credit, as against the RBI norm of 18 per cent.
He also referred to complaints from several farmers that bankers were refusing to disburse fresh loans to farmers who were benefited from loan waiver scheme announced by the Central Government last year. ``The loan waiver scheme was aimed at rescuing debt-ridden farmers. It does not mean they do not require fresh crop loans,’’ he said.
He specifically asked bankers to cover 5 lakh number new `non-loanee farmers’ during 2009-2010. “Under any circumstances, no eligible farmer should be denied crop loans on the pretext of rules and procedures,’’ the Chief Minister said, while interacting with officials on the eve of State Level Bankers’ Committee meeting to be held at Jubilee Hall tomorrow.
The chief minister pointed out that the banking sector could not achieve the target for crop loans during 2008-09 in spite of record agricultural production. The achievement was only 82.35 per cent during 2008-09. He wanted that the banks achieve the target for the year 2009-10 well in advance.
Reddy further suggested that crop loans to tenant farmers be substantially increased. He instructed the agricultural department to conduct farmers’ meets in all villages and send the list of tenant farmers to bank branches.He suggested that the government departments create opportunities for farmers to take up innovative projects under agriculture and allied activities by providing sufficient infrastructure.
He asked the officials to identify bankable schemes and formulate suitable programmes with subsidy component to enable the banks to provide loans under agricultural and industrial sectors. He wanted that the banks review the position of disbursements under Annual Credit Plan through their branches at regular intervals. He asked the officials to closely monitor loan disbursements and see that targets under the Credit Plan be achieved.
The chief minister said major focus should be given to horticulture schemes due to the ever increasing demand for vegetables. Similarly, the banks should finance dairy and sheep rearing schemes. He suggested that all farmers should be encouraged to take up dairy as a supplementary activity.
Reddy observed that aggregate advances of banking sector in the State at the end of March 2009 stood at Rs 2,10,294 crore, as against Rs 1,48,015 crores at the end of March 2008, registering a growth rate of 42.08 per cent during 2008-09. Agricultural advances by March 31, 2009 stood at Rs 51,487 crores constituting of 24.48 per cent of net bank credit, as against the RBI norm of 18 per cent.
He also referred to complaints from several farmers that bankers were refusing to disburse fresh loans to farmers who were benefited from loan waiver scheme announced by the Central Government last year. ``The loan waiver scheme was aimed at rescuing debt-ridden farmers. It does not mean they do not require fresh crop loans,’’ he said.
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