a day ago
Banks told to sanction SHG loans via digital MCP
Tirupati: District Collector Dr S Venkateswar instructed bankers to sanction loans to Self-Help Groups (SHGs) under the Annual Livelihood Plan through the digital Micro Credit Plan (MCP) system. He chaired the District Level Bankers Committee (DCC) meeting on Friday at the District Collectorate, and was joined by RBI LDM Giridhar, LDM Guntur Ravi Kumar, Union Bank Regional Head Samanji Sharma, and officials from various banks.
Speaking on the occasion, he outlined the importance of implementing the Annual Livelihood Plan and ensuring that digital MCP channels are utilised effectively to support SHGs.
He highlighted that Tirupati, being an educational hub with several universities, must prioritise the sanctioning of education loans as part of financial inclusion efforts.
He also reviewed the PMEGP scheme, stressing that all sanctioned units should be grounded promptly. He pointed out delays in loan disbursal by some private banks and urged them to act without further postponements.
He directed all bankers to meet the defined lending targets without fail.
With forecasts indicating heavy rainfall in the district, the latter urged bankers to pay special attention to crop loans, particularly for tenant farmers holding cultivation cards, and to ensure timely disbursal.
He also underlined the need for financial literacy initiatives, instructing banks to organise special camps to raise public awareness about digital transactions under the Financial Literacy Programme.
Following the meeting, the Collector, along with RBI LDM Giridhar and Union Bank Regional Head Samanji Sharma, released the Tirupati District Annual Credit Plan 2025–26.
The meeting was also attended by NABARD DDM Sunil, DRDA PD Sobhan Babu, MEPMA PD Ravindra, and several senior bank officials.
