Banks lag in achieving MSME loan target for FY23 in Puttaparthi, Andhra Pradesh

Puttaparthi, Mar 7 (KNN) The banks in Puttaparthi district of Andhra Pradesh have so far sanctioned Rs 618 crore out of Rs 1,401 crore to the MSME sector which is the fiscal target of the current year.

On the other hand for agriculture Rs 4,994 crore had been targeted but Rs 6,223 crore had been given which was revealed on Monday at the district consultative committee meeting.

In view of overall target fixed for 2022-23 year of Rs 8,134.70 crore, loans to the tune of Rs 8,656.06 crore had been sanctioned.

District Collector of Puttaparthi in Andhra Pradesh Basanth Kumar has told the banks to give top priority to Agriculture and MSME sector and achieve the targets of the different schemes set by the Central and State government for the current financial year. 

He appreciated the bankers for their excellent cooperation in meeting the targets and goals of government.

Kumar however pointed out that the targets for micro-loans through DRDA and Mepma schemes for fishermen, animal husbandry and weaver’s community need to be speeded up.

“Top priority should be given to Agriculture and MSME sector and prospective entrepreneurs should be encouraged by the bankers,” said the DC.

He urged the bankers to sanction loans to the beneficiaries on a fast track mode before the expiry of current financial year.

The loans include crop loans to farmers, tenant farmers including to stand-up India and PM Mudra beneficiaries.

Many of the beneficiaries have not been sanctioned loans particularly the beneficiaries selected by the government. He asked the bankers to meet all targets before March 31, 2023.  (KNN Bureau)