Telangana: Banks told to focus on giving loans to agriculture sector
Bhatti Vikramarka urges the banks to actively involve in Indira Mahila Shakthi scheme by extending credit to potential income generating activities
Hyderabad: Deputy Chief Minister Bhatti Vikramarka has urged the banks to focus more on extending credit to agriculture, weaker sections and SHGs. He also advised the banks to have more exposure in priority sector lending with a special focus on various schemes being implemented by the Social Welfare Department to ensure upliftment of weaker sections, particularly rural unemployed youth.
Speaking at the State-Level Bankers’ Committee (SLBC) meeting here on Friday, Vikramarka assured the banks of support from State government. He appealed to the banks to actively involve in another flagship scheme of Telangana government – Indira Mahila Shakthi scheme by extending credit to potential income generating activities, including solar energy plants.
Speaking on the occasion, Agriculture Minister Thummala Nageswara Rao, asked the banks to focus more on achieving annual targets under Agriculture and allied activities. He further sought the support of banks in focusing more on PMFME scheme, loans against warehouse receipts, farmer producer organisations and oil palm cultivation, by exploring the abundant potential available in the State.
During the meeting, the CGM of the State Bank of India (SBI) Rahesh Kumar said the banks in Telangana region saw total deposits growing by Rs 36,915 crore in 2024-25, while the total deposits stood at Rs 8,16,868 crore. The total advances with banks grew by Rs 74,865 crore and the advances of all banks were at Rs 10,53,924 crore. During the first three quartes, the banks have disbursed short term production loans to the tune of Rs 58,791 crore achieving 64.75 per cent of targets.
The banks have also disbursed Rs 49,964 crore as investment redit to Agriculture, allied, agri infra and agri ancilliary activities achieving 81.56 per cent of the target. For the MSME segment, banks disbursed Rs. 1,00,862 crore achieving 77.80 per cent of target. Banks together have disbursed Rs 2,16,112 crore to various sections of borrowers under priority sector recording an achievement of 72.41 per cent of target.
