Bhatti asks bankers to show more concern in releasing loans to farmers

Hyderabad: Bankers should work with concern and not confine themselves merely to statistics and calculations. While government has released Rs 18,000 crore to banks towards farmers’ loan waiver, so far only Rs 7,500 crore has been released to farmers, said Deputy Chief Minister Bhatti Vikramarka.

Even one-week delay in loan waiver would not have desired benefit, he said while speaking at a meeting with bankers at Praja Bhavan here on Tuesday.

Elaborating on development and welfare goals of the government, the Deputy Chief Minister said the Congress government has decided to develop rural areas in a speedy manner and has taken up construction of Regional Ring Road.

"Agriculture is the backbone of the State and investment support is being extended to farmers through loan waiver and Rythu Bharosa. Funds are being allocated for completion of major and medium irrigation projects. The State government is also extending 24-hour free power and farmers are being freed from the debt burden. All these measures will strengthen the agriculture and allied sectors," Bhatti said.

He stated that along with agriculture, the priority is being given to industrial sector and government is going ahead with innovative policies.

"Chief Minister Revanth Reddy and Industry Minister Sridhar Babu during their recent visit to USA and South Korea to attract investments signed MOAs worth Rs 36,000 crore," he reminded.

Stating that small and medium-scale industries will generate large-scale employment to people, the Deputy Chief Minister asked bankers to sanction loans on a large scale to these industries.

He also sought bankers’ help in giving interest-free loans to Self Help Groups under Indira Mahila Shakti Scheme for industrial development and added that the government has intended to give one lakh crore interest-free loans to SHGs in five years.

Appreciating the bankers, he said in the first quarter itself 40.62 per cent of annual credit plan for 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 Congress government has been taking up various development programmes to keep Telangana State ahead in the race, he disclosed.

Bhatti Vikramarka said that the increase in paddy production would help the State to take lead position among States supplying paddy to Food Corporation of India and the State government was also ready to extend required help for oil palm cultivation in Telangana.