Deputy CM Bhatti pushes bankers for more loans to implement government schemes

Speaking at the State Level Bankers’ Committee (SLBC) meeting, Bhatti Vikramarka urged banks to support the rollout of the Rajiv Yuva Vikasam Scheme, aimed at providing loans to five lakh unemployed youth

Hyderabad: Deputy Chief Minister Mallu Bhatti Vikramarka urged bankers to give more loans and play a proactive role in implementing the State government’s credit-linked welfare schemes.

Speaking at the State Level Bankers’ Committee (SLBC) meeting on Thursday, Bhatti Vikramarka urged banks to support the rollout of the Rajiv Yuva Vikasam Scheme, aimed at providing loans to five lakh unemployed youth. The State government has earmarked Rs 6,250 crore as subsidy under the self-employment initiative, with sanction letters set to be distributed on June 2. He asked banks to appoint a State-level nodal officer to coordinate the scheme’s implementation.

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The Deputy Chief Minister also pointed to the government’s push for economic empowerment of women, by providing Rs.20,000 crore in interest-free loans to be disbursed to self-help groups (SHGs), with a target of Rs 1 lakh crore over five years. He also urged banks to support upcoming initiatives in the renewable energy sector, industrial clusters, and forest area development, hinting at the government’s increased push for integrated credit-led development strategy.