The record
Written from the 1 report below. Nothing here is unsourced.
- Chief Minister N. Chandrababu Naidu has directed banks in Andhra Pradesh to increase lending to all sectors and sections of society to strengthen the State's economy.
- Mr. Naidu said MSME lending had risen but remained below expectations, and some banks were lagging considerably in meeting their lending targets.
- He said large-scale bank loans to households were essential for Andhra Pradesh to lead the country in implementing the PM Surya Ghar rooftop solar scheme.
- He urged banks to ensure adequate institutional credit to tenant farmers, who often face difficulty accessing loans.
- The push for wider credit matters because the State is targeting 15% economic growth amid difficult conditions caused by El Niño.
What to watch next
- Whether banks that are lagging on lending targets close the gap before future SLBC meetings.
- Progress in bank financing for rooftop solar systems under the PM Surya Ghar scheme.
- Details of any one-time settlement mechanism for recovering defaulted loans from self-help group women.
Who said what1
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Chandrababu Naidu
Chief Minister of Andhra Pradesh
1 quote · 1 outlet
“There is no point in conducting SLBC meetings unless the targets are achieved”
In the article
…(MSMEs) had increased compared with the previous period, the level of credit disbursement was still below expectations. He pointed out that some banks were lagging considerably in achieving their lending targets. “ There is no point in conducting SLBC meetings unless the targets are achieved ,” the Chief Minister said, stressing the need for banks to translate the decisions taken at such meetings into measurable outcomes. Mr. Naidu said the State government wanted Andhra Pradesh to emerge as the country’s…
Coverage1
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Named India · Andhra Pradesh · N. Chandrababu Naidu · PM Surya Ghar · State Level Bankers' Committee
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