Banks set Rs 4631-cr target for loans in 2015-16

  • HT Correspondent, Hindustan Times, Fatehgarh Sahib
  • Updated: Mar 29, 2015 00:29 IST

A special district consultative committee meeting convened by the State bank of Patiala on Thursday concluded with fixing a Rs 4,631-crore target for disbursement of loans by banks in the next financial year, 13% more than the previous year.

The meeting at Bachat Bhawan was chaired by deputy commissioner KS Sangha.

Sangha told HT that an amount of rs 3,086.02 crore has been kept for agriculture, Rs 931 crore for MSME, while Rs 613.77 crore has been earmarked for other priority sectors.

Sangha urged bankers to impress upon the business community of the district to take up diversified business activities and venture into new arenas like agro and food processing.

He said the industries department may conduct seminars and workshops in the business town of Mandi Gobindgarh with the help of chamber of commerce and other stakeholders to send out a message to the business community that there is a need to shift from steel industry to various other diversified business activities.

He said experts and professionals may also be called in such meetings in the future to encourage businessmen.

The deputy commissioner further asked banks to lay special emphasis on the agriculture advances.
Additional deputy commissioner (development), Sanjeev Kumar Garg, who was also part of the meeting, advised the banks also to form more farmer clubs in villages.

The meeting was attended by officials of all the banks, besides district heads of various government departments and agencies.

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