Bihar DyCM asks banks to provide loans to farmers, entrepreneurs

The state government has asked its Urban Development and Housing Department to submit one lakh applications of footpath vendors for getting loans from banks, he said. Similarly, Rs 2 lakh crore loan has to be disbursed across the country among Kisan Credit Card (KCC) holders, he said, adding that only 69,689 farmers (having KCCs) in Bihar have been sanctioned Rs 960.85 crore as KCC loans.

Bihar Deputy Chief Minister Sushil Kumar Modi on Wednesday exhorted banks to extend their cooperation in providing benefits to the people especially farmers, entrepreneurs, small businessmen under the "Atma Nirbhar Bharat" economic package announced by the Centre. The DyCM, who also holds the Finance portfolio, asked banks to provide more loans to wood-based industries, agro- based processing units such as Makhana, vegetable, fruits, honey, maize and seed.

The state government has made a provision to give these units capital and interest subsidy between 15 to 35 per cent, he said. The DyCM said this while reviewing the various aspects of Atma Nirbhar Bharat scheme during the 73rd meeting of State Level Bankers Committee (SLBC) here in the state capital.

Expressing concern over banks approving a very low number of applications and amount to footpath vendors under Atma Nirbhar Bharat scheme, he said that of 14,917 applications, only 3,974 have been approved and of this, only 45 applicants were given Rs 10,000 each as loan. The state government has asked its Urban Development and Housing Department to submit one lakh applications of footpath vendors for getting loans from banks, he said.

Similarly, Rs 2 lakh crore loan has to be disbursed across the country among Kisan Credit Card (KCC) holders, he said, adding that only 69,689 farmers (having KCCs) in Bihar have been sanctioned Rs 960.85 crore as KCC loans. Of 40,602 applications of dairy, fishery and poultry farmers, only 7,217 applications have been approved for which Rs 63.39 crore loan has been sanctioned, he said, adding that 12 lakh applications of dairy farmers of Bihar will be submitted in banks for loan.

Under collateral free loan of Rs 3 lakh crore to MSME sector and other entrepreneurs and traders, Rs 2051.11 crore has been sanctioned as loan for 1,17,713 applicants in Bihar, the DyCM said. He also expressed concern over the 10 districts which have achieved less than 10 per cent of the annual credit plan target and asked officials that he would hold another meeting separately after 15 days to review the performance of these 10 districts.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)