Nationalized banks turn down 90 percent of proposals

APEDC president Narendra Patil takes review

Aurangabad:

Over 90 percent of the cases sent to nationalized banks for financial assistance through the Annasaheb Patil Economically Backward Development Corporation (APEDC) have been turned down in the district, said APEDC president Narendra Patil, during a review meeting on Thursday. He also said that more than 5000 beneficiaries have been disbursed loans of Rs 334 crores and interest refunds of Rs 31 crores have also been given.

Patil reviewed the functioning of the APEDC at the collector office. Interacting with the reporters Patil said, the board of directors was dismissed during the Mahavikas Aghadi government. Hence no meetings were held. Deterioration occurred due to lack of financial provision. The loan disbursement through banks was affected. Interest refund was also delayed. Now district wise review is being taken. Banks do not provide loans. There should be a separate scheme for women. Current status of loans is not satisfactory. Collector Astikkumar Pandey, deputy collector Prabhodaya Mule, district lead bank manager Mangesh Kedar, assistant commissioner Suresh Varade, Kishore Shitole, along with bank officials and activists of Maratha community were present.

Age requirement relaxed for loans

Nationalized banks have 90 percent pending proposals of loans. The loan amount has now been increased from Rs 10 lakhs to Rs 15 lakhs, and the maximum age requirement for applicants has now been increased to 60 years. Government resolution in this regard will be issued soon.