Heated exchanges over bank loans in Assy

Puducherry, Apr 25: The failure of nationalised banks here to disburse loans for several government schemes resulted in heated exchanges during the Question Hour in the state Assembly today.

Replying to a question, Industries Minister gave the list of beneficieries under various schemes to which the opposition members said only a few were given loans and others rejected.

They entered into heated exchanges with the Minister and the Treasury Benches.

Mr Vaithilingam said banks has fixed low targets and hence, if 500 applications were forwarded only five were getting the benefit.

At this juncture, the members wondered why the government continued to deposit in nationalised banks and wanted the government money to be put into cooperative banks.

Mr Vaithilingam said the PMRY scheme would not be implemented through the cooperative banks.

Amid noisy scenes, Speaker R Radhakrishnan said the members did not know the procedure and wondered how much loan a cooperative bank could release.

UNI