Telangana Finance Minister T Harish Rao today instructed the bank managements in the state to disburse fresh loans to farmers in an efficient and speedy fashion.
Speaking at the 29th Bankers' Meeting with officials and bankers, Rao said that the year's farm credit was Rs 75,977.72 crore, and that this sum would be given to the accounts of 62.36 lakh farmers.
He asked the concerned officials to give out the loans to farmers in need without any delay, and added, "The annual credit plan of the state for the 2021-22 financial year totals Rs 1.86 lakh crore. Out of this, the largest portion will be given to farm credit. Amid the implementation of Covid-19 protocols, the bankers have worked hard to serve people. I am confident that they will not divert funds from the total loan amount. The government gave about Rs 7300 crore to 61 lakh farmers in just one week under the Rythu Bandhu financial services scheme. The scheme is helping the poor farmers grow Kharif crops. Chief Minister K Chandrashekar Rao has been implementing many such flagship programs for the benefit of the farmers."
The minister also warned the banks not to take portions of the loans for arrears.
SLBC president Om Prakash Birla, RBI official Nikhila, NABARD CGM Krishna Rao and other officials were present for the meeting.
This year, infrastructure-related agricultural loans have been pegged at Rs 3,895.61 crore. Total credit to the sector touched Rs 91,541.71 crore - accounting for 49.2% of the total credit plan.