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Jagan asks banks to strengthen rural economy supporting schemes

<p id="content">Andhra Pradesh Chief Minister Y.S. Jagan Mohan Reddy urged banks to extend support in implementing the state government's welfare schemes to strengthen the rural economy.</p>
He addressed senior bank employees at the 212th state-level bankers' committee (SLBC), where he said that helping farmers and strengthening villages are the top priorities of the state government.

Reddy highlighted that over 62 per cent of the state relies on agriculture.

"Government has been successfully implementing YSR Rythu Bharosa-PM Kisan schemes by providing Rs 13,500 to farmers in three spells, Rs 7,500 in kharif, Rs 4,000 in rabi and Rs 2,000 during harvest time in January," he said.

According to the CM, the loan target of Rs 75,237 crore for 2020-21 kharif season has been achieved 83 per cent by disbursing Rs 62,650 crore worth loans.

He asked the senior bank employees to check whether all farmers enrolled on e – cropping platform are receiving loans or not.

"It is mandatory for farmers to have an e-cropping certificate to avail crop insurance and zero-interest loans in order to avoid corruption," highlighted Reddy.

The chief minister told bank employees to pay special attention in granting loans to farmers as they check e-cropping certificates while issuing loans.

He said the government introduced a market intervention fund of Rs 3,200 crore to procure crops by paying minimum support price (MSP), which will rise to Rs 3,500 crore this year.

Reddy also explained the representatives of banks about the plethora of schemes the government introduced..