NABARD sets target of Rs 13,000 crore farm loans

Hyderabad, Aug 22 (INN): The National Bank for Agriculture and Rural Development (NABARD) has set a target of distribution of Rs 13,000 crore loans to the farmers in Andhra Pradesh and Telangana.

Speaking to media persons after launching the Financial Literacy Through Trains drive at Secunderabad Railway Station here, NABARD Chief General Manager Jiji Mamman said that the NABARD has been working different strategies to provide Rs 13,000 crore loans to the farmers. He said only 30 to 35 per cent bank account holders were maintaining their accounts properly and nearly 50 per cent of the people have never visited a bank. He said people still prefer sending money through Hawala route than through regular banks. He said that financial awareness drive was aimed at convincing people to do bank-linked transactions.

SBH General Manager S Jaswinder Singh, he said meetings are being convened at village-level to create awareness among rural masses about the benefits of banking services. APCOB Managing Director V Giridhar said that nearly 30 lakh families are linked to banks while the farmers and horticulturists are enjoying the benefits through six Grameena Banks. Andhra Bank General Manager C Duraiswamy also spoke.

Earlier, they launched the Financial Literacy Through Trains at the Secunderabad Railway Station through Secunderabad – Guntur Golconda Express.