Business Daily from THE HINDU group of publications
Monday, Jul 13, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Monday, Jul 13, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Agri-Biz & Commodities
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Farm credit States - Andhra Pradesh AP urges banks to cover all farm loan applicants Our Bureau Hyderabad, July 12 The Andhra Pradesh Chief Minister, Dr Y.S. Rajasekhara Reddy, on Sunday asked bankers to simplify procedures and grant crop loans to all eligible farmers in the State, including tenant farmers. He also directed bankers to cover 5 lakh new ‘non-loanee farmers’ during 2009-10 and suggested that crop loans to tenant farmers be substantially increased. “ Under any circumstances, no eligible farmer should be denied crop loans on the pretext of rules and procedures,” the Chief Minister said during his interaction with officials on the eve of State Level Bankers’ Committee meeting. According to a statement from the Chief Minister’s Office, Dr Reddy pointed out that the banking sector achieved only 82.35 per cent crop loan target for 2008-09 in spite of record agricultural production. The agricultural department was directed to conduct farmers’ meets in all villages and send the list of tenant farmers to bank branches. They were asked to take up innovative projects under agriculture and allied activities. The focus is on identifying bankable schemes and in formulating suitable programmes with subsidy component to enable banks to provide loans under agricultural and industrial sectors. He favoured close monitoring of the Annual Credit Plan through their branches at regular intervals along with loan disbursements. Apart from focus on horticulture schemes due to the ever increasing demand for vegetables, banks should finance dairy and sheep rearing schemes, where dairy could be taken up as a supplementary activity. The Chief Minister observed that aggregate advances of banking sector in the State at the end of March 2009 stood at Rs 2,10,294 crore, as against Rs 1,48,015 crore at the end of March 2008, registering a growth rate of 42.08 per cent. Meanwhile, tribals in the forest tracts of Agency area who have been distributed land have been advised to take up coffee and rubber plantations. About 40,000 acres would be distributed to tribals at Paderu in Visakhapatnam. More Stories on : Farm credit | Andhra Pradesh
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