DK MP concerned about banks lagging in implementing Centrally sponsored schemes

DK MP concerned about banks lagging in implementing Centrally sponsored schemes

Mangalore Today News Network

Mangaluru, September 11, 2024: Dakshina Kannada MP Captain Brijesh Chowta expressed concern over many banks lagging in implementing several Centrally-sponsored schemes, including Mudra, Pradhan Mantri Jeevan Jyothi Bima Yojana, and PM-SVANidhi in the district.

Chairing the district-level bankers’ committee review meeting in Mangaluru on September 10, Capt. Chowta wondered why only eight applications were received under the Startup India Scheme as against the target of 1,300 beneficiaries. The targets were fixed with a broad idea about the number of beneficiaries in the district. “There should be some strong reason for not even 50% of the target being achieved,” he said and sought an explanation from the banks.

Some bank officials said it could be that some other schemes appear attractive to beneficiaries. Except that there is no need for security, the Mudra scheme does not have many benefits, they said.

Zilla Panchayat CEO K. Anandh expressed displeasure over zero performance of some banks in Jeevan Jyothi scheme wherein existing savings bank account holders would be enrolled for life and accident insurance. “It is a good scheme and banks should focus on it,” he said.

When the MP asked officials of local bodies, including Mangaluru City Corporation, to help beneficiaries of PM Street Vendors’ AtmaNirbhar Nidhi scheme in availing loans, a MCC official said not many were coming forward because of lukewarm response from banks. Capt. Chowta told MCC to inform him in writing about non-cooperation from banks.

Capt. Chowta expressed serious concern on learning that many beneficiaries of PM Employment Generation Programme (PMEGP) were yet to get the subsidy. He was told entrepreneurs were not given subsidy since 2019 and they were unable to avail fresh loans.

An official from the district industrial centre said that there was a delay in releasing the subsidy after the third-party inspection of PMEGP enterprises was handed over to the postal department.

The MP directed the banks to implement all the Centrally sponsored schemes in their true spirit to help potential beneficiaries in the district.

An official from the lead bank informed that banks had done total business of ₹1,22,649.22 crore in the first quarter of the financial year registering a year-on-year growth of 14.92%. Deposits stood at ₹70,806 crore and advances at ₹51,843.1 crore.