Public sector banks delaying loans to small businessmen: Biplab Kumar Deb

AGARTALA: Nationalised banks operating in Tripura are resorting to delay tactics while sanctioning loans to small entrepreneurs under the Pradhan Mantri Mudra Yojana (PMMY) scheme, chief minister Biplab Kumar Deb alleged. He was addressing the 129th State Level Bankers Committee meeting on Thursday.
"We expect the bankers should appreciate the government's plans and release the funds.Some bankers are delaying the release of loan to unemployed youths, but I request all of you to help loan seekers and help balance the ratio of deposit and credit in the state," Deb said at the meeting.
The CM's allegation comes amid recent reports released by the Centre for Monitoring Indian Economy (CMIE) which put the unemployment rate in Tripura at 26.1 per cent in April, a 7.1 per cent drop from 30.2 per cent in February last year. Tripura remains the state with the highest unemployment rate in the country.
The chief minister urged the bankers to create employment opportunities by giving loans to unemployed youth. Most of these nationalized banks, he alleged, have been indirectly withholding loans to small businesses by dragging them through numerous procedures, including the endorsement of guarantee, which is not one of the criteria for eligibility as per Mudra scheme.