Telling nationalised banks they are “not in sync” with government schemes, Gujarat Chief Minister Vijay Rupani on Thursday said the state slipped to seventh place in Prad-han Mantri SVANidhi (PM Street Vendor’s AtmaNirbhar Nidhi) scheme because banks failed to disburse loans.
Addressing a gathering of bankers and NABARD officials for unveiling state focus paper for the year 2021-22, Rupani said, “I expect that both NABARD and banks join the government schemes. Banks should help even individual beneficiaries get loans quickly. A person approaches a nationalised bank with some hope. Banks should fulfil the person’s need. But unfortunately it does not happen. I have figures for Pradhan Mantri SVANidhi (PM Street Vendor’s AtmaNirbhar Nidhi). Under this scheme, just Rs 10,000 of loan (collateral free) had to be given to small businesses during Covid period. In Gujarat there were 2.16 lakh applicants and disbursement happened in only 94,000 cases.”
“What are the banks doing? It is the responsibility of the banks to give loans to small businesses. It is a Government of India scheme. Why should lakhs of applications remain pending in your banks? Disbursements should happen quickly. Gujarat was in third position and as you guys (banks) failed to disburse loans, Gujarat fell to seventh position,” he said where regional director of Reserve Bank of India, RK Panigrahy, and chief general manager of NABARD, DK Mishra, was present.
from India | The Indian Express https://ift.tt/2OEXump
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