Telangana lags in Mudra loans disbursal

HYDERABAD: The unfunded are uncared for by the bankers in Telangana, if one goes by the performance of disbursement of Mudra loans. Till August, the bankers achieved only around 20 per cent of their target of around Rs 5,000 crore.Pradhan Mantri Mudra Yojana (PMMY) was formed with the primary objective of developing the microenterprise sector by extending various supports, including financial support in the form of refinance, so as to achieve the goal of “funding the unfunded”.   

However, the State government has failed to persuade the bankers to disburse loans to the people in the State under Mudra scheme. As a result, the bankers lagged behind in achieving their targets. The bankers have to achieve around 80 per cent of their targets in the next six months in this financial year 2017-18. 

“Though the Centre sanctioned huge loans to the State under Mudra, the State is not according much priority to this scheme,” official sources said.  The State Level Bankers’ Committee (SLBC) gave a huge target to Telangana Grameena Bank, which has minimal presence in urban areas. As a result, the bank achieved only 1.87% of its Rs 830 crore loan disbursement target up to August. However, the bankers have reportedly assured the finance department officials that they would achieve 80 per cent of the target in the next six months.