Andhra Pradesh

Banks told to sanction bridge loans

Chittoor: Collector S.S. Rawat urged bank branch managers to sanction bridge loans to the beneficiaries of houses constructed under Indiramma pathakam at a meeting of the District Consultative Committee of bankers held here on Saturday.

He said that as many as 11,000 applications for sanction of bridge loans were pending with the bank branches in the district which should be cleared soon in order to make the beneficiaries to complete their houses in time.

Further they were asked to extend financial assistance to all schemes implemented in the municipalities and in urban areas, so as to bring the poor above poverty line.

Programmes taken up under SC, ST and minority corporations were to be grounded before December 6, the Collector instructed the bankers.

He also directed them to extend financial assistance without any delay for the successful implementation of the newly introduced Pasukranthi pathakam of the Government.

The Collector thanked the bankers in cooperating with the district administration in achieving the Government- sponsored schemes successfully. Indian Bank deputy general manager Sivasailem told that all the banks in the district have disbursed Rs. 978.27 crore till October end against the annual target of Rs. 1501.12 of which rupees Rs. 547.34 crore for agriculture and allied activities, Rs.61.99 crore for small scale industries and Rs. 258.71 crore for other priority sectors. The deputy general manager Indian Bank assured the Collector that the annual target will be achieved well before the end of the financial year.

Earlier Potential Linkage Plan of NABARD was released by the Collector. Lead manager Suri Babu, Sapthagiri Gramena Bank chairman Chandra Sekhar Rao, State Bank AGM Sri Prakash Rao and DRDA Protect Director Chandra Mouli among others were participated in the meeting.

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