AP Dist to achieve cent per cent financial inclusion

Hyderabad, Nov 4 (UNI) Based on the lines of the Puducherry initiative, Srikakulam district was all set to become the first district in Andhra Pradesh to achieve 100 per cent financial inclusion by this month-end.

''We have covered 82 per cent of the 5.20 lakh household so far and will cover the remaining households by the month-end'', Andhra Bank Chairman and Managing Director K Ramakrishnan told Chief Minister Y S Rajasekhara Reddy at the ongoing ''Biocon-06'', the Indian Banking Conclave at the Hyderabad International Convention Centre (HICC).

''It is heartening to note that banks are providing no frills account to the poor. However, financial inclusion is not complete, unless credit and insurance services are provided to them'', Mr Reddy said, urging bankers to provide general purpose credit cards to all eligible people.

On a request from Mr Reddy, Mr Ramakrishna agreed to implement the financial inclusion programme in Rayalaseema and Telangana districts.

Delivering a special address on the concluding day of the two-day conference, Mr Reddy pointed out that inclusive growth has been the cornerstone of the national Common Minimum Programme (CMP) of the Union Government and Andhra Pradesh Government in contrast to "India Shining" for a few exclusive classes during the former NDA Government.

He said some banks would finance the massive irrigation initiative "Jayalayagnam" undertaken by his government and support Self-Help Groups (SHGs) under the "Indira Kranti Pathakam". Another major initiative to saturate the needs of villagers, including housing in the next three years was the "Indiramma" scheme, he added.

Mr Reddy said agricultural credit for farmers had increased to Rs 15,980 crore during 2005-06 as against Rs 9,019 crore in 2003-04.

Nearly 18 lakh new farmers had got the benefit in the last three years. The target of crop loans in the present financial year was Rs 15,700 crore, he added.

Had not banks actively played the role of financial intermediaries in this growth process, it would not have been possible to set the process of inclusive growth in right direction, he added.

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