Hyderabad: Finance Minister Etala Rajender has advised banks to release Rs. 21,000 crore loans to the farmers of Telangana.
Addressing the 16th State Level Bankers Committee meeting at SBI’s auditorium at Gun Foundry on Thursday, Etala said that the banks should come up new schemes to benefit the people, especially farmers. He said that the banks should increase the loan amounts for farmers for the ongoing Rabi season.
He told bankers that the State Government has already paid Rs. 17,000 crore towards crop loan waiver scheme. He asked the banks to return the interest amount which they collected from farmers.
Etala said that the banks should not treat farm loans as commercial transactions. But they should view them as a measure for economic empowerment of farmers.
Addressing the meeting, Agriculture Minister Pocharam Srinivas Reddy said the banks have been doing a good job in encouraging agricultural activities. He asked the banks to expand their network in rural areas.
The meeting was also addressed by Agriculture Department Secretary C. Parthasarathy and top officials of different banks. (INN)