District Collector instructs bankers to meet credit deadlines

The IAS official said that during the Kharif season, crop loans of Rs 776.36 billion were disbursed against the target of Rs 923 billion, an increase of 84.11 percent

Mancherial: District collector Bharati Hollikeri instructed bankers on Tuesday to meet loan deadlines on time.

Speaking at a review meeting with officials from various banks and municipalities here, Bharati said that around 13,000 of the 18,000 street vendors had been given a loan of Rs 10,000 each. She urged bankers to take steps at the earliest to secure the remaining 4,129 sellers. She said the district’s loan-to-deposit ratio is 66.58 percent. She stated that Rs 1.008 billion worth of loans had been released to the Priority Sector.

The IAS official said that during the Kharif season, crop loans of Rs 776.36 billion were disbursed against the Rs 923 billion target, an increase of 84.11 percent. Loans worth Rs 124 crore out of the total of 274 crore earmarked for small and medium-sized industries have been released. A total of 17.68 billion euros has been granted for home loans, she added.

The Collector urged the authorities to take action to extend loans through SC Corporation to eligible persons. She explained that 824 beneficiaries have already been identified, compared to the total of 878 entities sanctioned by the district. She directed the bankers and civil servants of the city to expedite the lending process to real beneficiaries of various programs.

Sai Charan, Director of Reserve Bank of India, Jagannatha Swamy, Regional Director of Union Bank of India, Tejeswar Rao, Chief Manager of State Bank of India, Ramana Murthy, Director of Deccan Grameena Bank, Sheshadri, District Rural Development Officer, Veeraiah, Fisheries Officer Satyanarayana, and officials from SC and ST companies were present.

Now you can have handpicked stories from Telangana today on telegram Every day. Click the link to subscribe.

Click here to follow Telangana today Facebook site and Twitter .

Previous Newtek Business Services Corp.'s portfolio company hires David Simon as Chief Operating Officer of Newtek Merchant Solutions
Next Maruti nominates three new startups as part of the Auto News, ET Auto innovation initiative