Deputy CM Mallu Bhatti Vikramarka assures bankers on HYDRAA

During a meeting with bankers at Praja Bhavan on Wednesday, Bhatti Vikramarka announced plans to disburse Rs 20,000 crore in interest-free loans to self-help groups (SHGs) across Telangana, with Rs 3,000 crore specifically allocated for SHG women in Hyderabad. He urged banks to either write off loans for tribal women's SHGs with low recovery rates or offer a one-time settlement option to clear the debts.

Hyderabad: Deputy Chief Minister Mallu Bhatti Vikramarka assured the bankers that the newly launched HYDRAA would focus solely on security, traffic control and curbing illegal encroachments on parks and lakes. It had no jurisdiction on construction approvals, which remain under GHMC and Town Planning, he said.

In a meeting with the bankers at Praja Bhavan on Wednesday, Bhatti Vikramarka revealed plans to disburse interest-free loans totaling Rs 20,000 crore to self-help groups (SHGs) in Telangana, including Rs 3,000 crore allocated specifically for SHG women in Hyderabad. He wanted the banks to either write off loans provided to tribal women’s SHGs where the recovery rate was very low or provide them a one-time settlement opportunity to clear the loans.

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Pointing out that the recovery rate for SHG loans exceeded 98 per cent, he asked the banks to provide larger number of low-interest loans to them. To further support rural income, the Deputy Chief Minister shared government plans to lease buses to women, set up MSME parks in every constituency with special allocations for women, and enhance SHG programmes for economic development.
Senior officials, including Special Chief Secretary K Ramakrishna Rao, attended the meeting.