The Hindu Business Line : Chidambaram visit catches bank staff off guard

THE Union Finance Minister, Mr P. Chidambaram's visit to select rural bank branches and Primary Agricultural Cooperative Societies in the Madurai, Coimbatore and Erode districts was no surprise tour, but prepared as they (bankers) were with facts and figures, the Minister's intervention took them by surprise.

Mr Chidambaram did not spend more than 25 to 30 minutes in each branch, but during that time managed to quiz the details of the branch's performance, hear and resolve (wherever possible) borrowers' grievance.

Expecting the Minister to address the customers and hail their achievement, the chosen branches had invited select beneficiaries to attend the meeting. Mr Chidambaram instead, started collecting the complaints and examining them then and there. It was more like a `durbar'.

Keen to get first hand information about the level of lending and hassle free sanctions, Mr Chidambaram invited the members of the crowd to communicate about the problems encountered by them, in brief.

Losing no time, they started informing the Minister that loan sanctions, be it farm loan or educational assistance was not easy at all. "They are not even taking the loan application," said one, while another said that the rural branches were demanding surety for educational loan, despite fulfilling all criteria, even if the accommodation was sought for a sum of Rs 25,000.

While assuring them that these issues would be resolved soon, he called upon the bankmen to take a `proactive, not reactive stand'.

'Credit reach poor'

Taking a short break from his whirlwind tour of the rural bank branches in this part of the country, Mr Chidambaram said that he was "not satisfied" about the credit reach.

Mr Chidambaram told press persons at Pollachi near Coimbatore that there was no guarantee that the policy announcements made at Delhi would reach the branch level in toto, particularly the rural branches. "It is reaching at present, but I cannot say if the reach is perfect, although I believe that it would within the next 15 days."

However, a review after one or two months would indicate if the message has penetrated up to the field level functionaries, he said. Mr Chidambaram was confident of improved satisfaction levels.

More Stories on : Farm credit | Farm credit | Politics | Co-operatives | Tamil Nadu

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