Chief Minister Edappadi K. Palaniswami on Saturday urged banks to extend loans, primarily to farmers, the MSME sector and women’s self-help groups (SHGs), as they were essential for reviving various businesses which were in a critical state due to the COVID-19 lockdown.
Speaking at the State Level Bankers’ Committee meeting at the Secretariat, Mr. Palaniswami urged bankers to give their full-fledged support to the Tamil Nadu government to serve the people.
Observing that the economy had been affected by the lockdown, and that the Centre and the State government had taken various steps, he said, “Loans are essential for various businesses during these critical times.”
Farmers, the MSME sector and women’s self-help groups needed loans, he said. Since there was sufficient water in Mettur dam, kuruvai cultivation in the Delta region would continue, he said. “I urge you to extend loans to farmers since agriculture is essential to the country’s economy,” he said.
Stating that the loans extended thus far to the MSME sector were inadequate, Mr. Palaniswami urged banks to provide more loans to MSMEs. The CM also exhorted the lenders to extend loans to women’s self-help groups.
Mr. Palaniswami also released the ‘Annual Credit Plan — Tamil Nadu State 2020-21’, drafted by the State Level Bankers’ Committee, at the meeting.
During his speech, Deputy Chief Minister O. Panneerselvam said that most of the steps being taken for the benefit of the MSME sector depended on the banks.
“Hence, banks should act promptly to improve the economy,” he said. Industries Minister M.C. Sampath, Rural Industries Minister P. Benjamin, Chief Secretary K. Shanmugam and other senior officials were present on the occasion.
