Kanpur District Magistrate Takes Strong Stance Against Banks Over Youth Entrepreneur Scheme
District Magistrate Jitendra Pratap Singh on Wednesday issued a stern warning to banks demonstrating indifference in implementing the Chief Minister Youth Entrepreneur Scheme in Kanpur. During a comprehensive review meeting, Singh made it clear that negligence at any level in this ambitious government initiative would not be tolerated under any circumstances.
Alarming Disbursement Shortfalls Revealed in Review
The review meeting uncovered concerning performance gaps among several financial institutions. Yes Bank, Kotak Mahindra Bank, IndusInd Bank, and Bandhan Bank were each assigned a target of providing loans to 40 beneficiaries during the financial year 2025-26, yet these banks had not disbursed a single loan to date. The situation appeared similarly troubling for other major banks operating in the district.
IDBI Bank managed to disburse only seven loans against its target of 40, while Bank of Maharashtra disbursed merely six loans. IDFC First Bank performed even more poorly with just one loan disbursed against a target of 40. Axis Bank, with a substantial target of 200 loans, failed to disburse any loans whatsoever. HDFC Bank disbursed 75 loans against a target of 210, and ICICI Bank provided only 26 loans against its target of 200.
Contrasting Performance Among Public Sector Banks
In stark contrast to the private sector banks, several public sector institutions demonstrated more satisfactory performance. Bank of Baroda emerged as a relatively strong performer, disbursing 420 loans against a target of 550. State Bank of India, the country's largest bank, provided loans to 347 beneficiaries against a target of 650. Punjab National Bank also showed reasonable progress with 251 loans disbursed against a target of 500.
District Magistrate Issues Stern Warning
District Magistrate Jitendra Pratap Singh expressed strong displeasure at the unsatisfactory performance of multiple banks and announced that formal letters would be sent to senior officials of underperforming institutions recommending necessary corrective action. The DM emphasized that such negligence in implementing a crucial government scheme aimed at youth empowerment was completely unacceptable.
Under the comprehensive CM Youth Entrepreneur Scheme, Kanpur district had been assigned an ambitious target of 4,000 loans. The review revealed that only 2,313 loans had been disbursed so far, representing a significant shortfall. Singh issued clear instructions that all pending applications must be processed expeditiously, and eligible youth applicants should receive their loans without unnecessary bureaucratic delays.
Strict Consequences for Continued Negligence
The District Magistrate concluded the review meeting with an unambiguous warning: banks failing to improve their performance and expedite loan disbursements would face strict administrative action. The government remains committed to ensuring that the youth entrepreneurship scheme achieves its intended objectives of fostering economic growth and creating employment opportunities in the Kanpur region through proper implementation and timely financial support to aspiring young entrepreneurs.
