Grant loans to students, industries on time: CM

PUDUCHERRY: Chief Minister N Rangasamy has urged banks to provide timely and adequate credit to students under the  Educational Loan Scheme and loans for development of industry and service sectors.Delivering the keynote address at the State Level Bankers’ Committee (SLBC) meeting here on Friday, he emphasised the need for a hassle-free loan delivery system without hardship and delay to the applicants.The CM urged the banks to provide a comprehensive checklist of the required documents to the applicants so that they can approach them for loans with all  relevant information.   “This would help in quick sanction of loans and reduce the need for making frequent visits to the bank,” he said.Declaring the coverage of all 2,000 Plus population villages under Financial Inclusion Plan in the UT, the Chief Minister launched the “Swabhiman” programme for creating awareness among the public on financial inclusion activities undertaken by banks.Earlier, T M Bhasin, Chairman and Managing Director, Indian Bank & Chairman of SLBC - Puducherry, asked the banks to make operational all the savings accounts opened under the FI Plan as mere opening of accounts would not serve the objective of the scheme.  He requested the UT Government to introduce the Loan Eligibility Cards (LEC) Scheme on the lines of Andhra Pradesh so as to enable banks to provide financial support to tenant-farmers and leasehold cultivators, who now find it difficult to get bank loans for want of documentary support.