Intro
Priority sector lending achieved 99 percent overall; agriculture nearly met, taluks mixed, major banks outperformed smaller banks significantly
Gadag
Former Chief Minister and MP Basavaraj Bommai asked banks to speed up Mudra loans and agricultural credit during a district review meeting in Gadag on Tuesday. Praising banks role, he said banking should support economic growth and help farmers, Dalits, backward classes and women through more credit facilities.
Bommai said agriculture is the backbone of the economy and urged banks to ensure more farmers benefit from low interest and government supported loans. He explained that growth in farming increases income, boosts consumption and helps industries and services expand across the economy. He said banks must support self help groups, women groups, small industries and young entrepreneurs through government schemes and easy loans. He stressed expanding rural banking, opening more branches and increasing loans under the Mudra scheme to encourage self employment.
Officials reported strong progress in priority sector lending, with overall achievement near ninety nine percent and agriculture sector almost fully met. Different taluks showed mixed results, while major banks and nationalised banks performed better than regional and smaller finance banks in targets.
The meeting also reviewed several government schemes including Mudra, PMEGP and pension and insurance programs with senior officials present. He also directed banks to ensure timely crop damage compensation, support Vishwakarma community youth training and improve self employment opportunities in rural areas. Praising the overall system, he expressed dissatisfaction with Karnataka Bank performance and asked all banks to remove regional imbalance and focus on poor people empowerment.
Bommai said strong banking support can boost district development, increase investment and strengthen the rural economy when banks work with farmers and communities.
Senior officials including MLA C C Patil, Deputy Commissioner C N Sridhar, Zilla Panchayat officials, RBI representatives and NABARD officers participated in the meeting and shared inputs on banking progress and government scheme implementation across Gadag district.
Concluding the meeting, Bommai said inclusive growth depends on strong banking reach, better loan delivery and active participation of financial institutions in rural development and farmer welfare across the district. He added that farmers must be prioritised for sustainable economic progress in Karnataka.