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Andhra Pradesh has laid out its credit plan for the year 2015-16 at ₹1,25,748 crore, of which ₹65,272 crore has been earmarked for agriculture.
The credit plan launched by Chief Minister N Chandrababu Naidu at the State Level Bankers’ Committee (SLBC) meeting held here on Monday, proposes total credit for priority sector at ₹96,920 crore, while for the non-priority sector it is at ₹28,828 crore.
Naidu has asked banks to adapt interoperability, which allows business correspondents of one bank to offer payment services to other lenders, for better efficiency and optimisation.
“This can enable us to disburse pensions in an efficient way to people. Eventually, this will help us become a cashless economy by achieving our goal of financial inclusion,” he added.
Referring to the implementation of the debt redemption scheme in two phases so far, the Chief Minister sought banks’ cooperation to ready themselves for the third phase of the roll-out. “We’ve linked most of bank accounts to Aadhar. This should be carried out immediately and efficiently. We have to relieve farmers from debt-burden and make farming profitable,” he said.
For better credit delivery, the Chief Minister has advised banks to for sub-committees for agriculture, horticulture, livestock, fisheries, MSME and affordable housing at district-level/mandal-level.
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