Deputy Chief Minister Mallu Bhatti Vikramarka urged bankers to see lending to people as a social responsibility during the 40th quarterly meeting of the State-Level Bankers’ Committee in Hyderabad. He emphasized the importance of providing loans to farmers in order to prevent them from turning to private money lenders, which could lead to a debt trap or even suicides. Bhatti also highlighted the need for loans for housing and education.
Bhatti called on bankers to take a humanitarian approach towards farmers and ensure that accounts of farmers are regularized in order to provide them with fresh loans. He also mentioned the need for one-time settlements for Emu farmers who faced losses and for loans for self-employment for the unemployed without requiring assets as collateral. Additionally, he emphasized the importance of generous loans to self-help groups of women to help them become financially stable.
Agriculture Minister Tummala Nageswara Rao stressed the importance of supporting farmers to ensure food security in the state. He urged bankers to align their operations with government priorities and provide loans to farmers looking to establish dairy units to boost milk production. Nageswara Rao also mentioned the need for progress in the sanctioning of education loans and Kisan credit cards.
Overall, both Bhatti and Nageswara Rao emphasized the importance of bankers recognizing their social responsibility in providing loans to farmers, the unemployed, and self-help groups to support agriculture and allied sectors in the state.
