Deputy CM Bhatti Vikramarka asks banks to lend extensively

Indicating the government's plans to rely heavily on loan-based welfare programmes, he wanted the banks to provide loans for schemes targeting farmers, SCs, STs and BCs communities under various welfare programmes.

Hyderabad: Deputy Chief Minister and Finance Minister Bhatti Vikramarka Mallu on Monday sought the bankers to provide loans extensively under various government schemes. Indicating the government’s plans to rely heavily on loan-based welfare programmes, he wanted the banks to provide loans for schemes targeting farmers, SCs, STs and BCs communities under various welfare programmes.

He wanted them to provide capital to Self Help Groups for setting up solar power generation units; loans for farm mechanisation; loans for Micro, Small, and Medium Enterprises (MSMEs); and also support the government to provide interest-free loans worth Rs 20,000 crore per annum to women.

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Addressing the State Level Bankers Committee (SLBC) meeting at Praja Bhavan here, Bhatti Vikramarka hinted at the State government’s requirements for huge loans for massive projects including the Musi River Rejuvenation project, Regional Ring Road and also large-scale constructions for Young India Skills and Sports Universities as well as pharma companies. “Bankers should have plans ready with long-term approach with motto of Telangana Rising,” he said. He informed that tenders for RRR will be finalised soon.

The Deputy Chief Minister wanted increased crop loans to farmers as the bankers could release loans amounting to Rs 44,438 crore against target of Rs 54,480 crore for the Vaanakalam (Kharif) season.