Bankers told to be part of Telangana Rising

Hyderabad: Deputy Chief Minister Bhatti Vikramarka called upon the bankers to be liberal in extending loans to farmers, small and medium entrepreneurs and self-help groups. Bankers have been asked to achieve a 100 per cent target in the distribution of farm loans during the Rabi season.

Bhatti Vikramarka said that while the target for 2024 Kharif season was Rs 54,480 crore, Rs 44,438 crore were released, meeting 81.57 per cent of the target. As there is still one month’s time for the Rabi season, the process of giving loans should be speeded up, he said. He asked the bankers to adopt a long-term approach with the motto of ‘Telangana Ris-ing’.

He said while repayment to banks had increased, sanction of loans has decreased, and this anomaly should be corrected. The finance minister was of the view that loans to corporates would result in the economy getting centralised in the hands of a few individuals. Hence, the banks should encourage micro, small and medium enterprises along with big companies.

Bhatti said the government was giving Rs 20,000 crore interest-free loans every year with an objective to encourage women to become entrepre-neurs. The objective of the government was to make one crore women as crorepatis in the next five years.

He further said that the government has signed an MoU with self-help groups for generation of 1,000 MW solar power and the government had set a target to generate 4,000 MW solar power. There is importance for generation of green energy throughout the country and keeping this in view bankers should provide capital for green power, Bhatti said.

He felt that if the banks meet their target and give loans to the farmers, it would make agriculture viable and profitable for them since the state government had waived off loans of farmers up to Rs 2 lakh and would be giving Rythu Bharosa soon.