Modi warns banks of stern action for failing to provide loans

Patna, Oct 13 (UNI) Bihar deputy chief minister Sushil Kumar Modi today warned all nationalised banks operating in the state of stern action in the event of any laxity in execution of poverty alleviation schemes.

Mr Modi issued the warning during a meeting of senior officers of various nationalised banks and state rural development department when he detected the 'insensivity' of the bankers in providing loans under various poverty alleviation schemes.

The state government officers also handed over evidences to Modi, indicating refusal of the banks to grant loans under poverty alleviation schemes despite receiving subsidy amount from the Bihar government against this head.

Mr Modi took strong exception to the fact that only 26,118 self help groups(SHGs) had been constituted in Bihar during the financial year 2006-07, while this figure at the national level was 6,86,773 in the same period.

Against the target of providing loans to 15,040 SHGs only 2,811 had been granted the finacial assistance under Golden Jubilee Self Employment scheme, he lamented.

UNI