During a review meeting of the Chief Minister’s Youth Entrepreneur Scheme, the District Magistrate expressed strong dissatisfaction with the poor performance of several banks in processing and disbursing loans.
District Magistrate (DM) expressed displeasure with:
- Canara Bank, Thanabhawan, for not working according to the advisory issued by its AGM and for showing poor progress in implementing the scheme. The DM warned that if required, an FIR could be registered in the matter.
- Pointed out that Axis Bank had received 22 loan applications across its various branches, but only two loans were approved, and not a single loan amount had been disbursed. This situation led the DM to express serious dissatisfaction.
- The Branch Manager of Bank of India in Shamli did not come to the meeting. Out of 20 applications received, only 1 was approved, and the other 19 were rejected. Because of this, the District Magistrate (DM) decided to take it seriously and ordered a show-cause notice (a letter asking for an explanation).
The District Magistrate instructed all banks to dispose of loan applications within a fixed time frame, ensure prompt disbursement of approved loans, and clearly record valid reasons before rejecting any application.
The meeting was attended by Chief Development Officer Vinay Kumar Tiwari, Assistant Commissioner Industries Preeti Tyagi, Assistant Commissioner Industries Ravindra Kumar, the Lead District Manager, and officials from various bank branches.
