AP CM Naidu Urges Banks to Frame SOP to Check Cyber Frauds, Digital Arrest Scams
Amaravati, June 19 (TNT): Andhra Pradesh Chief Minister N. Chandrababu Naidu on Friday asked banks to formulate a Standard Operating Procedure (SOP) to prevent digital arrest scams, cyber frauds and other financial crimes, while stressing the need for swift action to protect victims.
Addressing the 235th State-Level Bankers’ Committee (SLBC) meeting at the Secretariat here, Naidu said a large number of people in Andhra Pradesh had fallen victim to digital frauds in recent months and called for stronger monitoring and preventive mechanisms.
He suggested that banks establish Central Transaction Monitoring Cells to detect suspicious transactions and prevent financial frauds.
He also urged banks to conduct extensive public awareness campaigns to educate customers about cyber crimes.
The Chief Minister released the Andhra Pradesh Annual Credit Plan for 2026-27, under which banks have proposed credit disbursement of Rs 8.10 lakh crore across sectors during the current financial year.
Of the total outlay, Rs 5.40 lakh crore has been earmarked for priority sectors, including agriculture, while Rs 2.70 lakh crore has been allocated to other sectors. The agriculture sector has been allocated Rs 3.60 lakh crore, including Rs 2 lakh crore towards crop loans.
The MSME sector has been allotted Rs 1.55 lakh crore, while housing and education loans of Rs 11,500 crore and Rs 2,500 crore respectively have also been proposed.
Naidu urged banks to increase credit flow to MSMEs, startups, renewable energy projects, aquaculture, dairy and cold-chain infrastructure.
He also proposed the formation of a committee comprising bankers and government officials to monitor credit disbursement and non-performing assets (NPAs).
The Chief Minister announced that the State Government was prepared to provide an additional four per cent interest subsidy on education loans in convergence with the PM Vidyanidhi Scheme to support students pursuing higher education in India and abroad.
Calling for stronger coordination between banks and government departments, Naidu urged banks to effectively implement Central schemes such as PM Vishwakarma and Stand-Up India.
He also asked banks allotted land in Amaravati’s Financial District to expedite construction of their offices and contribute to the development of the proposed Bank Street.
Stating that Andhra Pradesh has set a target of achieving 15 per cent economic growth during the year, Naidu said the banking sector has a key role in providing the financial support required to achieve the objective.
TNT KM
