Banks Should Provide Loans to the Youth of the Maratha Community Urgently for the Business set-up
The State Government has motivated the youth in the Maratha community to set up their own business by Late Annasaheb Patil Financial Development Corporation’s Interest Refund Scheme. According to the Revenue Minister and Chairman of the cabinet committee on Maratha reservation Chandrakant Patil, the youth has shown great interest in participating in this scheme, therefore they should get immediate and easy loan approval for the business set-up and banks should take immediate action for this process. He also gave directions to the banks to resolve the doubts about the scheme and start the loan supply procedure.
The meeting was organized in the ministerial chamber of Mr Patil for Annasaheb Patil financial development corporations interest scheme for Maratha youth and problems associated with the procedure of loan to the youth. The attendees of the meeting were different banking officers and authorities of the bankers association. At this meeting, Mr Patil provided information about the scheme to bank representatives and also answered their questions. Other attendees of the meeting were Skill Development Minister Sambhajirao Nilangekar Patil and Cooperation minister Subhash Deshmukh.
Central Bank Chief Manager Sunil Humane, Andhra Bank General Manager Anil Singh, Bank of Maharashtra Vikrant Patil, IndusInd Bank’s Surjkumar Pramani, Kanara Bank’s Sanjay Devale, Manager of the Leader Bank Sanjeev Sapte, Bank of India, Central Bank of India, Punjab National Bank, Bank Of Baroda, Oriental Bank of Commerce, Axis Bank, Yes Bank, Saraswat Bank, Yuko Bank, State Co-operative Bank, Maharashtra Rural Banks, Indian Overseas Bank, Bank of Vidarbha, Konkan representatives were present for the meeting.
Mr Patil said that the State Government has encouraged financially backward castes, especially the Maratha community to promote their business. The Annasaheb Patil financial backward development corporation’s, personal loan interest refund scheme, group project interest refund scheme, and group project loan scheme are being implemented for this purpose. The State Government will pay the amount of the interest refund scheme and cooperation will provide loans for the group project. Therefore, these schemes will help entrepreneurs to a great extent. Till now, around 9500 youngsters from the state have shown interest in taking advantage of this scheme and to start business units. Many youths also have received the letter of intent from the corporation. However, the youths are facing difficulties in getting loans from the bank. To resolve this problem and to boost business development, Corporation has started kiosk and guidance offices in each district. Banks should also co-operate and guide young people for easy and immediate loan services. Mr Patil appealed to the banks to provide loans for this scheme because the Corporation has guaranteed interest payments.
The State Government has taken many important decisions to speed up the scheme. The Corporation is going to contribute to the first-month interest and the principal amount after loan approval. Therefore, according to Mr Patil, new business starters will get partial relief.
Each businessman will be registered with e-wallet and the wallet will be associated with the respective bank. The interest amount of the loan will get deposited in the e-wallet. This procedure will promote transparent and speedy transaction and it will motivate young business initiators in the state, according to Skill Development minister Mr Nilangekar Patil.
Asim Gupta, secretary skills development department, E. Ravindran, Late Annasaheb Patil Financial Development Corporations Managing Director Suchita Bhikane and another bank manager were present for the meeting.