Bankers sought to expedite subsidised loans to marginalised sections

District Collector directs bankers to provide 100% subsidized loans for BC and SC communities, emphasizing timely implementation and equitable distribution.

District Collector Sumit Kumar directed bankers to cooperate with the State government’s initiative to provide 100 percent subsidised loans aimed at improving the livelihoods of Backward Classes (BC) and Scheduled Castes (SC).

Speaking at a Special District Consultative Committee meeting held at the Collectorate here on Friday, the Collector stressed the importance of achieving the targets set under the 2024-25 Annual Plan.

The State government has allocated 2,800 units for economically backward communities under the BC Corporation and other caste-specific corporations, while 678 units have been earmarked for SC beneficiaries under the SC Corporation. These loans will be sanctioned for self-employment opportunities across various sectors such as agriculture, animal husbandry, motor vehicle services, industries, and businesses.

To ensure effective implementation, a district-level committee will be formed to scrutinise applications and identify eligible beneficiaries. Under the MSME scheme, loans will also be provided to BCs for initiatives such as setting up generic medicine shops, with each unit comprising three to five members. Subsidies will be offered in three tiers to ensure equitable distribution of benefits.

The District Collector highlighted the importance of expediting the loan sanctioning process and urged bankers to meet the targets allocated to each bank. He reiterated that the State government has given high priority to these self-employment schemes as a means to address financial disparities and uplift marginalised communities. Bankers were instructed to give special attention to the schemes and ensure timely sanctioning of loans.