metro india news  I amaravati

Andhra Pradesh Chief Minister N. Chandrababu Naidu has called on banks to realign their priorities to meet the aspirations of farmers, entrepreneurs, and the state government rather than restricting themselves to routine meetings and targets. Addressing the State-Level Bankers’ Committee (SLBC) meeting at the Secretariat on Tuesday, the Chief Minister said it was time for banks to change their functioning and focus on timely support.

Naidu cautioned that in the ongoing Kharif season, half the cultivation period has already elapsed, and loans sanctioned at the fag end of the season would be of no real use to farmers. “Credit and input support should reach farmers when they need it most. Loans disbursed after the crucial period serve no purpose,” he observed.

Stressing the need for innovation, he urged banks to adopt reforms suited to the changing global environment. He noted that India’s economic rise was strong enough to challenge the dominance of the US and China, and banks must play a pivotal role in accelerating growth while also reducing inequality. “We must collectively work towards making India a strong economic power by 2047. Alongside wealth creation, bridging the gap between rich and poor should be a key priority,” he said.

The Chief Minister outlined a series of initiatives requiring banking support, including promoting one lakh women entrepreneurs on International Women’s Day, supporting higher education, aiding weaker sections, and providing financial backing for skill development. He also proposed establishing a Financial District in Amaravati with headquarters of major banks and setting up a Logistics Corporation in collaboration with financial institutions.

The SLBC meeting reviewed lending across sectors. Against the Kharif target of Rs.1,80,540 crore, banks disbursed Rs.94,666 crore by June. This included Rs.985 crore to tenant farmers, Rs.49,831 crore to the MSME sector, Rs.5,937 crore to self-help groups, Rs.3,189 crore under Mudra loans, Rs.252 crore for education, Rs.1,146 crore for housing, and Rs.125 crore for renewable energy projects.

Reiterating his commitment to inclusive development, Naidu said his thinking was shaped both as a student of economics and as a public representative. He recalled his extensive global outreach, including visits to Davos, aimed at attracting investment and fostering industrial growth, but stressed that economic progress must also prioritize the welfare of the poor.