Collector Urged banks to Promote Financial Literacy and Support Growth
District Collector M.N. Harendhira Prasad urged banks in the district to enhance financial literacy and raise awareness about cyber fraud. Speaking at the June Quarter Bankers District Level Review Committee meeting, he emphasized organizing awareness camps and rallies across urban and rural areas to educate citizens.
Mr. Prasad advised bankers to monitor high-volume transactions, respond to signs of distress, and aid individuals in need. He highlighted that banking initiatives should align with the financial goals of citizens and farmers, simplify loan procedures, and support self-employment and entrepreneurship. Citing Ratan Tata’s suggestion, he encouraged banks to back projects under the Innovation Hub and assist innovators with new ventures.
The Collector instructed officials and bankers to process loan applications promptly, prioritize the primary sector, and extend credit facilities under Central and State Government schemes. Farmers and fishermen were advised to receive Kisan Credit Cards linked to subsequent loans.
He also stressed compliance with RBI guidelines, the annual loan plan, and identification of beneficiaries for financial assistance through Agri Clinics and Agri Business Centers. Officials were directed to oversee NABARD-funded rural projects, including Anganwadi construction, and expand self-employment training centers to create opportunities for youth.
The meeting was attended by LDM Srinivasa Rao, RBI representatives, bank managers, and district-level officers from multiple departments.