Bhatti dispels banks' fears over HYDRA strikes in Hyderabad

Hyderabad: Deputy Chief Minister Bhatti Vikramarka Mallu appealed to the bankers to stop worrying about HYDRA. “The State government would protect the interests of the banks and consumers in the construction of the buildings, and the role of HYDRA is only to protect the lakes and parks and traffic regulations,” the Minister said.

Speaking at the special bankers’ conference at Praja Bhavan on Wednesday, he said that GHMC, Town Planning, and other government departments alone would examine all parameters and give approvals for the constructions, and any government will continue them. HYDRA will deal with security, traffic regulation, and prevent encroachment of parks and lakes by encroachers.

Bhatti, who is also the State Finance Minister, said that the government has already decided to extend Rs 20,000 crore interest-free loans to SHGs this year, and if possible, the government would extend more loans. He highlighted that the corporate commercial banks were charging nine to 13 per cent interest and said bankers should work with social responsibility. “The rules for extending loans should be simplified,” he said.

“In the private sector, the loan recovery rate of banks was quite low, but the loan recovery rate for loans extended to SHGs was more than 98 per cent. Thus bankers must extend more loans to women SHG groups at lesser interest,” he suggested. He disclosed that the government is considering buying buses and giving them on lease to increase the income of SHGs.

Bhatti mentioned that micro, small, and medium-scale industrial parks are being set up in every constituency, and women will be given special allotments in these centres.

“If bankers extended their help with a broad mind and heart, livelihood and economic development opportunities would become possible in rural areas,” he stated.

The Deputy CM said that the government decided to give interest-free loans to the tune of Rs 3,000 crore in Hyderabad and instructed officers concerned to take it up to Rs 5,000 crore.

“After agriculture, MSME units provide large-scale employment. Hence, industrial parks will be set up on a big scale,” he said, seeking the cooperation of bankers. “We are interested in taking Telangana forward as a progressive State and expect bankers to extend their branches. If banks increase in numbers, the State too will develop,” he said.