greater noida banks and other financial institutions across gautam budh nagar have been able to achieve 27 of the annual credit target in the first quarter of this fiscal year even when commercial operations remained subdued due to the lockdown releasing the figures of the loan and mortgage disbursement during the first quarter officials claimed that credit close to rs 29078 crore has been doled out during april may and june of this year the report has already been submitted to reserve bank of india rbithe annual credit target for the current fiscal year was revised and brought down from the target which had been achieved last year owing to the pandemic while the credit target for 201920 was rs 11290 crore it stands at rs 10600 crore for the current fiscal year according to officials mostly medium and small enterprises msmes availed loans this fiscal year so farvedratna kumar lead district bank manager of gautam budh nagar said we are analysing the disbursement and mortgage data to understand where the maximum credit flowed to during the first quarter however the figures are encouraging and we hope to achieve the target this year the official also said the demand for credit still continues and is being fulfilled by banks and financial institutionsmoreover participating in a districtlevel consultative committee meeting to monitor the prevailing situation administrative officials directed banks to ensure loans are not given to dubious and defaulter builders who have been carrying out construction activities illegallydistrict magistrate suhas ly said a lot of banks have given home loans to buyers in shahberi though illegal construction has taken place in this belt the credit flow continued both for builders and buyers as a result a lot of buyers feel stranded nowbank officials have been asked to identify real estate projects where institutional finance was doled out in the past even though the projects were dubbed illegal by competent authorities banks were also asked to refrain from allowing builders to use their logos and names while advertising illegal projectsdevelopers have been able to bait the buyers by claiming that their projects have been cleared by financial institutions for lending said the dm buyers who feel stranded after buying flats in shahberi have been raising the issue to the up government and rbi as wellsources said that banks have been asked to carry out an internal inquiry to identify the officials who sanctioned loans to illegal projects in the past the report will be sent to rbi collusion with officials of noida and greater noida will also be examined said an official