Bank credit to villages fall short of target

By Staff
|
Google Oneindia News

New Delhi, Feb 7 (UNI) Banks have disbursed 25 per cent less credit than their target in the rural area under the Swaranjayanti Gram Swarozgar Yojana (SGSY), with a loan applications mounting to 4.18 lakh in 2006-07.

By the end of last year about 2.25 lakh loan applications were approved in 2,643 bank branches spread all over the country under SGSY for disbursement of loans said, Rural Development Minister Raghuvansh Prasad Singh while presiding over the 10th meeting of the Central level Coordination Committee of the SGSY held here today.

''Of which, the actual delivery was made to 1.92 lakh applicants which amounted to clearing of 57.94 per cent of the target,'' he added.

During the end of last year, however, 1.50 lakh Self-Help Groups (SHGs) were formed. About 1.37 lakh are of grade I and 61,000 are of grade II.

About 93.14 per cent of them got financial assistance till the end of December 2006.

UNI

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