Shobha Karandlaje asks banks to prioritise lending to food processing and allied industries in Udupi district

Union Minister of State for Agriculture and Farmers’ Welfare Shobha Karandlaje on Monday directed banks in Udupi district to give priority in lending for food processing and similar other industries that generate more employment

Union Minister of State for Agriculture and Farmers’ Welfare Shobha Karandlaje on Monday directed banks in Udupi district to give priority in lending for food processing and similar other industries that generate more employment.

Presiding over the district-level consultative committee and review committee for banking development at Rajatadri, district office complex in Manipal-Udupi, Ms. Karandlaje told banks to ensure their employees be people-friendly. Applications seeking financial aid under government schemes should be disposed off as per the extant rules without any delay, she said.

Jurisdictional bank branches should display the procedure to avail financial assistance for government schemes in each gram panchayat so as to help the beneficiaries. Officials should work had to promote agri-based industries and enterprises, the Minister said. Despite the district producing good quantity of marine products, they get exported from neighbouring Kerala, she said asking banks to finance fish processing units in the district.

Zilla Panchayat CEO H. Prasanna informed the meeting that the total banking business has grown to ₹52,675 crore registering a 9.08% year-on-year growth (₹4,386 crore). Banks have registered 108% growth in Pradhan Mantri Udyog Srujan Yojana by lending ₹20.41 crore to 187 persons as against the target of 173 persons. Udupi is in first place by lending loans to 4,162 persons as against 2,819 street vendors under the PM Svanidhi Scheme, Mr. Prasanna said.

Canara Bank Udupi Regional Manager K. Sreejith said the bank lending has improved to ₹17,041 crore with a net increase of ₹1,192 crore from the previous year, a growth of 7.52%. Bank deposits have grown to ₹35,635 crore with a net increase of ₹3,195 crore, registering 9.85% growth.

A. Kiran Kumar Kodgi, Kundapur MLA, Gururaj Gantihole, Byndoor MLA, and others were present.