Banks fail to meet agri loan targets

The banks in the district have failed to meet agriculture loan targets and most of them have been unsuccessful in achieving at least one per cent target.

This came to light during the tri-monthly progress review meeting on various programmes under the Lead Bank Schemes in the district at the ZP auditorium here on Wednesday.

Even after the process of cultivation is completed, the banks in the district have achieved the target of only 59%.

While Karnataka Vikas Grameena Bank stands first in the district, by achieving the target of 83%. MDCC Bank has achieved 81%, Central Bank of India 70%, Canara Bank 59%, and Indian Overseas Bank 58%.

Several banks, such as Punjab National Bank, Bank of Maharashtra, Andhra Bank, Allahabad Bank, Punjab and Sind Bank, United Bank of India, South Indian Bank, Catholic Syrian Bank, Lakshmi Vilas Bank, Karur Vysya Bank, City Union Bank, Jammu and Kashmir Bank, Axis Bank, IDBI Bank, Dhanlaxmi Bank, Yes Bank, PLD Bank and Karnataka State Financial Corporation have failed to achieve even one per cent target.

MP Pratap Simha, who inspected Stand-Up India Scheme, expressed dissatisfaction for having issued loans to only 246 Scheduled Caste (SC) or Scheduled Tribe (ST) people under the scheme. Prime Minister Narendra Modi introduced the scheme to empower SC/STs and women. But, the banks are neglecting the scheme and have failed to create awareness among the people, he said.

Lead Bank Manager Venkatachalapathy informed that as many as 12,740 persons have borrowed Rs 61.76 crore under Mudra’s ‘Shishu’, Rs 2.41 crore by 11,673 persons under ‘Kishor’ and Rs 2.55 crore by 2,927 people under ‘Tarun’ scheme of Mudra.

Fine

Assistant General Manager of Reserve Bank of India N Dattadreya directed the banks to accept Rs 10 denomination coins and warned of imposing a fine if they fail to accept the coins.

As per the survey, 40% of the banks do not accept Rs 10 coins and out of 100 banks, only four had Rs 10 coins, he informed.

He said, “A fine will be imposed on the bank branch managers and cashiers, if coins are rejected. The government has released 15 varieties of Rs 10 denomination coins and the coins must be accepted by people and banks.”