Chief Minister N. Chandrababu Naidu has directed banks to ensure timely credit flow to farmers for the Kharif season, cautioning that loans disbursed at the end of the season serve little purpose.
Chairing the 232nd State-Level Bankers’ Committee (SLBC) meeting at the Secretariat on Tuesday, he stressed that banking policies must adapt to the changing global economy and support India’s vision of becoming a strong economic power by 2047.
Mr. Naidu urged bankers to move beyond routine indicators and frame decisions that reflect the aspirations of farmers, Self-Help Groups (SHGs), MSMEs, and rural communities. “Banks and financial institutions must innovate, reduce inequalities, and promote wealth creation without resorting to false or unproductive lending,” he said.
Highlighting initiatives such as One Family–One Entrepreneurand MSME parks in all 175 constituencies, the Chief Minister called for proactive participation from the financial sector. He also urged bankers to encourage women entrepreneurs, aiming to create at least one lakh new women-led enterprises by the upcoming International Women’s Day on March 8, 2026.
Mr. Naidu requested banks to provide loans to the lands of Amravati farmers, particularly those holding returnable plots under the APCRDA Land Pooling Scheme (LPS). He further encouraged banks to set up their State head offices in Amravati within the next few years and make it a financial hub by starting financial back-end operations there, assuring that the government will provide the required lands. Additionally, he asked bankers to support incubation and innovation centres in the State to foster inventions and promote budding entrepreneurs.
The meeting, attended by Chief Secretary K. Vijayanand, SLBC Chairman Nitish Ranjan, and representatives from RBI, NABARD, SIDBI, Exim Bank, and other institutions, also reviewed progress on earlier decisions. Banks reported sanctioning ₹94,666 crore by June against the annual target of ₹1.80 lakh crore, including ₹985 crore to tenant farmers, ₹49,831 crore to MSMEs, and ₹5,937 crore to SHGs.