Mysore/Mysuru: Deputy Commissioner Dr. K.V. Rajendra has asked Bank officials to credit drought relief money directly to the accounts of farmers.
He was speaking after chairing the quarterly progress review meeting of Mysuru District Lead Bank (State Bank of India) at the ZP Hall here yesterday.
Pointing out that this year’s (2024-25) total outlay of Rs.31,720 crore is higher than last year’s allocation by 11 percent, Dr. Rajendra said that out of the total allocation of Rs.10,197 crore for agricultural and allied activities, Rs. 5,811 crore has been earmarked for crop loans and Rs.4,386 crore for term loans. The allocation for SSI/MSME sector is Rs.6,313 crore while Rs.3,710 crore has been earmarked for trade and services, he added.
Continuing, the DC said “Public sector banks have been vested with the responsibility of releasing Rs.12,1213 crore under priority sector accounting for 60 percent of the outlay for priority sector. Private sector banks, Regional Rural Banks and financial Institutions like Co-operative Banks and KSFC have to disburse remaining amount.”
Under Agriculture and Allied activities coming under priority sector, minor irrigation has received Rs.150 crore while farm mechanisation has been allocated Rs.180 crore. Besides, Plantation and Horticulture sectors have received Rs.160 crore, while the allocation for dairy farming is Rs.150 crore and agriculture infrastructure is Rs.160 crore, he noted.
The DC further said that the credit plan envisages an outgo of Rs.650 crore for tourism development while Housing loan will account for Rs.918 crore and the educational loan has got an allotment of Rs.482 crore.
Officials from the Lead Bank (SBI) said that the District Credit plan is based on potentiality available in the district as assessed by NABARD. Special emphasis has been given for flow of credit to Agriculture and MSME sector to ensure sustainable growth with priority for rural development, government schemes, credit linkage to self-help groups etc., they added.
Dr. Rajendra said that an important aspect of credit is its timing and adequacy and banks should make efforts to dispose the loan applications logically within the stipulated time.
Underlining the importance of financial inclusion, he said that every section of the society should be brought into the Banking system. He highlighted that financial inclusion aims to provide basic banking and social security facilities to the marginalised and weaker sections of society.
Detailing the imperatives of vicinity banking, he said “I call upon the banks to explore possibilities of opening Bank branches in all Gram Panchayats and ATMs at major centres in the district during the current financial year.” He also stressed on the need for the Banks to have a sympathetic approach towards farmers and to rectify the glitches or mismatch in the updation of IFSC Codes of Banks where farmers have an account.
Pointing out that rejection of loan applications is high in the district, he said that smaller loans can be considered and approved.
Advocating the need for communicating in the local language in banks, the DC asked the Bank officials to give a list of Bank Managers who are new to the place and non-Kannadigas.
Reiterating the importance of communicating in local language, he directed the Bank officials to make arrangements for local Kannada teachers to teach them conversational and administrative Kannada. It will be a social discrimination if one doesn’t speak the local language, he observed.
Dr. Rajendra also released the District Credit Plan for Mysuru (2024-25), which is pegged at Rs.31,720 crore, of which Rs. 20,220 crore has been allocated for priority sector advances.
ZP CEO K.M. Gayathri, Lead Bank officials Shantaveera, J.J. Jeevik, Rajeshkumar Choudhury and others were present.
This post was published on May 16, 2024 7:37 pm