Banks in Telangana disbursed ₹17,383 crore farm loans, achieved 35.56% Kharif target

Deputy CM Mallu Bhatti Vikramarka, Agriculture Minister Tummala Nageswara Rao and Principal Secretary (Finance) Sandeep Kumar Sultania at the SLBC meeting in Hyderabad on Tuesday.

Banks in Telangana disbursed ₹17,383 crore short term production loans thus achieving 35.56% of the Kharif target, State Level Bankers’ Committee Convenor Prakash Chandra Baror told a meeting of SLBC that reviewed performance for the quarter ended June 2024 here on Tuesday.

In terms of investment credit for agri allied; agri infra; and agri ancillary activities, the disbursements stood at ₹23,848 crore meet 41.65% of the targets, he told the meeting in which Deputy Chief Minister Mallu Bhatti Vikramarka, Agriculture Minister Tummala Nageswara Rao, senior officials of the State government besides bankers participated.

Total deposits of the banks increased ₹2,005 crore to touch ₹7,81,959 crore, while the total advances grew ₹16,289 crore to ₹9,95,348 crore.

Banks disbursed ₹57,079 crore to MSMEs achieving 44.03% of the targets. During the quarter, educational loan disbursements were ₹220.49 crore and home loans ₹984.34 crore. Under the Pradhan Mantri Mudra Yojana, the banks sanctioned ₹1,987 crore achieving 21.49% of annual targets. They disbursed ₹1,00,731 crore to various sections of borrowers under the priority sector, reporting achievement of 35.9% of targets.

Addressing the meeting, Agriculture Minister said that with the State government implementing crop loan waiver 2024 scheme in record time, the banks ought to effectively address issues related to the waiver effectively at the branch level. He urged banks to expedite timely disbursement of crop loans.

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