Clear loans to boost agro-industries: CM to bankers

Dehradun: Chief minister Harish Rawat on Friday asked bankers to a play major role in boosting major development sectors, including agriculture, horticulture and agro-based macro small and medium size industries by approving loans to their entrepreneurs, on a priority basis within a stipulated timeframe.
Addressing the 52nd state-level bankers’ committee meeting at his residence, Rawat deplored lack of adequate support by bankers over the months which had resulted in slowing down the pace of development in different sectors.
“As banks have a greater role to play in contributing to development, they will be able to make their presence felt in areas of different development sectors only when they start clearing loans meant for giving impetus to these sectors,” said Rawat.
Referring to the delay caused by banks in releasing the loans meant for boosting significant state-sponsored projects, including cluster farming of pulses and vegetables, and other agro-based industrial units in hills during the past eight to 10 months, Rawat asked bankers to re-define their priorities in approving loans to prevent different development schemes’ s entrepreneurs from suffering further.
Rawat regretted that banks’ inability to grant loans to entrepreneurs in time over the months, has brought dozens of small scale cottage units including local handicrafts and other hand-woven carpets and mats units, to shut down in Champawat, Pithoragarh and Tehri districts. “Although state government releases funds to local entrepreneurs to run these small scale units, they also need financial assistance from banks periodically to boost these units,” said a senior IAS officer in state government.