Speaker calls for easy loan access for small traders, entrepreneurs

A district-level review meeting of the District Advisory Committee (DAC) was held at Chamba on Monday. Chaired by Speaker of the Himachal Pradesh Legislative Assembly, Kuldeep Singh Pathania, the meeting focused on financial progress and implementation of government schemes by various banks operating in the district.

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During the meeting, Lead District Manager DC Chauhan said the annual credit target for the district was Rs 1,410.41 crore, the banks had disbursed loans worth Rs 1,637.22 crore, achieving 116.10 per cent of the target.

Speaker Pathania pointed out that although banks in Chamba hold total deposits of Rs 7,338.41 crore, the credit-deposit ratio remains low due to under-disbursement of loans. He urged all banks to ensure hassle-free credit availability for small traders, entrepreneurs and farmers. He also recommended that banks frame policies for borrowers unable to repay loans due to severe illness or death of the primary breadwinner, suggesting interest waivers in such cases.

The Speaker emphasised the need to link all farmers in the district with the Kisan Credit Card (KCC) scheme and to spread awareness about government schemes such as the Pradhan Mantri Jan Dhan Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana, Ayushman Bharat health insurance, Atal Pension Yojana, Aadhaar seeding and educational loans. He also instructed banks to organise awareness camps to meet the NITI Aayog’s key performance indicators.

Chamba MLA Neeraj Nayyar raised concerns that banks are often reluctant to provide small loans, compelling people to borrow at exorbitant interest rates from private lenders. He urged banks to show empathy towards customers and ensure convenient service delivery.

Ashish Sangra, Lead Development Officer (LDO) from the Reserve Bank of India stressed the importance of promoting digital literacy through monthly camps. He also noted that some banks are focusing their lending efforts in only a few sectors and called for more balanced disbursement across all priority sectors.

DAC Chairman Mukesh Repaswal directed banks to expedite loan proposals under government-sponsored schemes like the National Rural Livelihood Mission (NRLM), National Urban Livelihood Mission (NULM) and PM SVANidhi. He assured the Speaker that the points raised during the meeting would be addressed with special focus in the coming months.

Additional Superintendent of Police Shivani Mahela, SDM Priyanshu Khati, managers and representatives of various banks and officers from several government departments were present during the meeting.