http://www.centralchronicle.com/viewnews.asp?articleID=57746
Bank loans to SC/ST: Lok Sabha MPs want more
Category » Business Posted On Friday, March 11, 2011
Agencies
New Delhi, Mar 11:
Members across party lines in the Lok Sabha today expressed
dissatisfaction with Finance Minister Pranab Mukherjee's reply on the
issue of bank loans to SC/ST and educational loans to weaker section
of the society.
Speaker Meira Kumar said in view of its great importance, she would
allow a detailed discussion on this subject if the members give a
notice.
Mr Mukherjee maintained that no collateral securities were asked from
the SC/ST borrowers by the public sector banks, but there may be some
aberrations and these could be tackled on a case to case basis.
He said it is not personally possible to monitor over 86,000 PSU bank
branches spread across the country but these aberrations would have to
be tackled.
He was responding to a question that SC/ST borrowers were put to
hardship as they do not have any landed property of their own and in
the case of ST it is mostly leased " Patta" which cannot be placed as
collataral.
Mr Mukherjee said with a view to ensure a smooth flow of credit to
SC/ST, RBI has been issuing instructions to banks from time to time.
The latest master Circular on Priority Sector Lending -Credit
facilities to SC and ST has been issued by RBI on July 1, 2010,
whereby banks have been advised about the measures to be taken in
order to set up advances to SCs/STs.
He said out of the total priority sector lending a sub-target of 10
per cent has been fixed for weaker sections. Banks are being monitored
as per these targets but in some cases the banks failed to meet the
targets and they had been asked to fulfil the objectives.
On educational loans to students from the weaker section, Mr Mukherjee
said as per the banking directive no guarantee is required upto a loan
of Rs 2 lakhs.
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