” Out of Rs 18K crore, banks disbursed only Rs 7,500 crore: Bhatti
” Asks bankers to show more concern
” Says even a one-week delay will not yield desired benefit
Bankers should function with more concern for the public and not confine themselves to statistics, Deputy Chief Minister Bhatti Vikramarka Mallu said. Although the government has released Rs 18,000 crore to banks for waiving the loans taken by farmers so far only Rs 7,500 crore has been released to farmers, he said. Even a one-week delay in loan waiver would not have the desired benefit, he said while speaking at a meeting with bankers at the Praja Bhavan here on Tuesday.
Elaborating on the development goals of the government, Bhatti said the Congress government has decided to develop rural areas fast and has taken up construction of the Regional Ring Road. Agriculture is the backbone of the State and investment support is being extended to farmers through loan waivers and Rythu Bharosa and funds are being allocated for the completion of major and medium irrigation projects. The government is also providing 24 hour free power supply to farmers. All these measures will strengthen agriculture and allied sectors, he said. Along with agriculture, Bhatti said priority is being given to industries and the government is going ahead with new policies. Chief Minister Revanth Reddy and Industry Minister Sridhar Babu signed MoUs worth Rs 36,000 crore during their recent visit to the US and South Korea, he said. Small and medium-scale industries will generate largescale employment, he said and asked bankers to sanction loans to these firms. He also sought bankers’ help in giving interest-free loans to Self Help Groups under the Indira Mahila Shakti Scheme for industrial development. The government aims to provide Rs 1 lakh crore as interest free loans to SHGs in the next five years, he said. Bhatti expressed happiness over the encouraging performance of banks in the first quarter of the financial year 2024-25 in advancing loans to priority sectors. Appreciating bankers, he said in the first quarter itself 40.62 per cent of the annual credit plan for the priority sector was achieved. Significantly, the cash reserve ratio of the State improved to 127.29 per cent in the first quarter itself. Telangana is one of the fastest growing states in the country and the Congress government is taking up development programmes to keep Telangana ahead in the race, he said. The increase in paddy production would help the state to take the lead position among States by supplying paddy to the FCI. Bhatti said the government would extend help for oil palm cultivation in the State. He hoped that bankers would exceed the target set for advancing credit in the next quarter of the financial year.
