Micro Finance budget increase to 400 Crores, Self help groups to benefit: Goa MP

Government of India has ,through the recent budget, has increased the corpus fund of micro financing from Rs 200 crores to 400 crores , and hence, Self-Help-Groups functioning in Goa will not have any difficulty in getting funds from banking institutions for genuine programes, said Mr Shantaram Naik M.P at Margao, today. Mr Naik, who was addressing the bankers and officers of various government departments at the District Level Review Committee Meeting of Lead Bank held at Margao on Monday further said that it is a satisfying development that in order to extend the geographical coverage of banks and improve access to banking services , RBI has decided to issue more banking licences.

Goa MP: Shantaram Naik

Mr Naik said that in a major step to reduce the bottlenecks caused in the financial sector, the Central Government has decided to establish a Financial Sector Legislative Reforms Commission, which may help common man as this Commission is bound to look into rules governing lending of loans to the weaker sections of the society. Mr Naik also suggested that Panchayats should play an effective role in constituting Farmers' Clubs.

Mr Naik said although as per Reserve Bank guidelines credit-deposit ration has to be 60% ,it is still 36% , in South Goa ,although the same is growing steadily. This may be because Goans are not adventurous in opening enterprises and hence are shy of taking loans and also, because a number of entrepreneurers obtain loan from outside Goa, Mr Naik said.

Shri Prasanna Acharya, Additional Collector, South Goa, who presided over the meeting said that bank officials should visit villages to motivate farmers to obtain loans. He said that these year's state budget gives thrust on agriculture.

Assistant Manger of Reserve Bank of India, Shri B.S.Meshram, said that, to suggest improvements in credit-deposit ration in Goa, the Reserve Bank of India has constituted a committee, and that steps will be taken as per the recommendation of the committee.

District Development Manger of NABARD Shri Uday Kadam, said that Self Help Groups will get better facilities if they are registered. Shri Arvind Velingkar, LEAD Bank Manager of State Bank of India welcomed the members.