Don’t delay loan sanction to government schemes’ beneficiaries, D K Zilla Panchayat CEO tells banks

Don’t delay loan sanction to government schemes’ beneficiaries, D K Zilla Panchayat CEO tells banks

Mangalore Today News Network

Mangalore, June 25, 2024: Dakshina Kannada Zilla Panchayat CEO K. Anandh on Monday directed banks in the district to sanction loans to beneficiaries of various government schemes without delay.

Chairing a bankers’ review meeting here, Dr. Anandh said there were many complaints of abnormal delay in sanctioning loans to the beneficiaries of government schemes.

Despite departments concerned choosing the beneficiaries and sending the files for loan approval, banks were reportedly not taking any decision thereby frustrating beneficiaries, he noted. In this background, the departments and banks concerned should work in coordination and sanction the loans without any delay, he said.

Dr. Anandh expressed concern over the banks’ failure to open overdraft accounts fo the Pradhan Mantri Jan Dhan scheme. While every bank branch was given a target of opening at least 10 overdraft accounts, they appear to have not made any effort in that regard, he said. Banks should prioritise financing government social schemes, he noted.

The CEO also mentioned that many complaints were being received about the non-availability of Kannada speaking personnel in bank branches. He directed banks to designate at least one Kannada-speaking employee to give information to people. He also expressed displeasure over bank employees not making any effort to learn Kannada despite being posted in Karnataka for a long time.

Reserve Bank manager Venkataramaiah asked banks not to reject the applications for agriculture loans of farmers for any reason. When banks lend loans for farming, it prevents farmers from approaching moneylenders. Private loans were the main reasons for farmers committing suicides, he said.

NABARD manager Ramesh Babu, Canara Bank Regional Head Umashankar Prasad, Lead Bank manager Kavitha Shetty and others were present.

Courtesy: The Hindu