Nation Current Affairs 08 Oct 2017 Andhra Pradesh: Bank ...

Andhra Pradesh: Bankers pushing youth into distress, say ministers

DECCAN CHRONICLE.
Published Oct 8, 2017, 7:17 am IST
Updated Oct 8, 2017, 7:38 am IST
Minister Umamaheswara Rao asks banks why they had not been giving loans to unemployed.
Union minister and state minister Devineni Umamaheswara Rao
 Union minister and state minister Devineni Umamaheswara Rao

Vijayawada: Union Minister Y.S.Chowdary said that the youth of AP are in distress for being unemployed and that the banks should come forward to help them by offering loans. 

At a meeting held here on Saturday, for Mudra promotion, the Union minister and state minister Devineni Umamaheswara Rao expressesed dissatisfaction, stating that the loan is not being granted to those who are really in need. 

 

The Union Minister inaugurated the programme and said that Mudra scheme, which is being well utilised by the people of other states, is not being helpful for AP due to indifference of the bankers. 

Mr Chowdary expressed dismay that there is no scope for taking crop loans and loans for canal extensions, while the bankers are failing to create awareness among the people regarding granting of loans. 

Minister Devineni Uma Maheshwara Rao also expressed dissatisfaction over the bankers and said that despite the Chief Minister’s request in the SLBC meeting, banks are continuing to be adamant and failing to issue loans. 

 

The loans were granted only to 3,000 people who belong to SC, ST, BC communities, the minister said. He wondered why the banks can grant loans under the Kishore and Sishu schemes while neglecting crop loans the farmers. 

He said that the people’s  representatives will take the responsibility for repayment of loans. He said that the banks which make business with people's money should help them. The government representatives and bankers should together  identify the real beneficiaries in order to make the Mudra scheme successful. 

 

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