Telangana Dy. CM Mallu Bhatti Vikramarka Urges Bankers to Utilise Funds for Loan Waiver

In a significant development, Telangana's Deputy CM Mallu Bhatti Vikramarka has urged bankers to ensure that the funds released by the state government for loan waiver are utilized effectively. He emphasized that the state government's priority is to support farmers and ensure that they are not burdened with debts.

During a meeting with bankers at Praja Bhavan, Deputy CM Vikramarka, along with Agriculture Minister Tummala Nageswara Rao, discussed the implementation of the Rs.2 lakh loan waiver scheme, which aims to waive off Rs.31,000 crores of loans in the state. It was highlighted that over 11 lakh farmers have already been benefitted from the scheme, with Rs.6,000 crores being released to them.

Under the loan waiver scheme, funds will be released in two installments, with the second installment scheduled to be released before the month of August. It was emphasized that bankers need to communicate with farmers who have loans exceeding Rs.2 lakh and ensure that the remaining amount is recovered. Additionally, measures should be taken to prevent farmers from accumulating further arrears beyond Rs.2 lakhs.

He said that implementation of the loan waiver scheme is considered a historic decision in the country, and efforts are being made to support farmers and alleviate their financial burden.