Govt to disburse Rs 1 lakh Cr Dwacra loans, reimburse banks interest-free loans: Bhatti Vikramarka

HYDERABAD: Deputy Chief Minister and Finance Minister Mallu Bhatti Vikramarka has called upon banks to give priority to women groups, agriculture, housing, and education sectors while disbursing loans.

Addressing a State Level Bankers Conference (SLBC)here on Thursday, Vikramarka said that the Government decided to disburse loans to the tune of Rs 1 lakh crore to Dwacra groups in the State in five years. He said that the Government would reimburse the interest-free loans released by the Banks.

Urging the Bankers to consider granting loans to weaker sections as their social responsibility. “You must not insist on a mortgage of tangible assets while granting loans to farmers and the unemployed,” he said. He urged the lead bank to offer a one-time settlement for sunk Emu farmers due to the failure of their ventures.

Declaring that the agricultural sector was the priority sector for the Government, he said farmers would be forced to go to unscrupulous private money lenders if the banks refused them loans. “That would lead to distress and suicides,” he said cautioning the banks.

He recalled that Andhra Bank launched education loans and Kisan credit cards, but the progress was tardy. “It was Indira Gandhi who nationalised the banks and helped in the equitable distribution of wealth.

He said that bankers should encourage entrepreneurship in the State and Telangana being a rich State would sustain huge investment with the active support of the Government.

The Deputy CM along with Agriculture Minister Tummala Nageswar Rao handed over Rs 1, 83, 41,000 incentive to sericulture farmers.