Hans News Service
Hyderabad
DeputyChief Minister Mallu Bhatti Vikramarka has said it is a remarkable achievement that total bank deposits in the state have reached nearly Rs 9.43 lakh crore, while advances touched Rs 12.34 lakh crore.
Telangana’s Credit-Deposit ratio of 130.78 per cent is exceptional, he added. The Deputy CM expressed happiness that banks exceeded agricultural loan targets. Against a target of Rs 1,65,297 crore, banks disbursed Rs 1,68,401 crore in agricultural loans, achieving 101.88 per cent.
He said agriculture is the backbone of Telangana’s economy and appreciated banks for supporting farmers, dairy farmers, fishermen and allied sectors through schemes, including Kisan Credit Cards.
Participating in the 49th State Level Bankers’ Committee meeting held on Friday, Bhatti appealed to banks to adopt a more positive approach towards educational loans, saying student loans are investments in the future of the youth. He stated that the people’s government has proved that welfare and development can progress together like twin engines.
The Deputy CM also urged banks to actively support solar projects, rooftop solar panel installations, and other environmentally friendly initiatives through financial assistance. He stressed the need to bring more people under social security and insurance schemes.
Bhatti Vikramarka said banks should function not merely as financial institutions that collect deposits and provide loans, but as strategic partners in the state’s development. Since public money ultimately reaches banks, he said it is important to decide strategically which sectors should receive loans based on their contribution to the state’s GSDP and employment generation.
He further said that the government is moving ahead rapidly with key projects, including the rejuvenation of the Musi River, construction of Future City, and the Regional Ring Road. With Telangana witnessing rapid urbanisation, he said the services sector holds enormous opportunities for growth.
To strengthen women’s economic empowerment, Bhatti said that interest-free loans for Self Help Groups in the state are being increased from Rs 5 lakh to Rs 10 lakh. He said the government has decided to focus on large-scale loan distribution to women’s groups in Hyderabad this year.