Hyderabad: Deputy Chief Minister Bhatti Vikramarka Mallu has reassured bankers not to worry about HYDRA, a body responsible for protecting lakes, parks, and ensuring smooth traffic. He emphasized that the State government would safeguard the interests of both banks and consumers in the construction of buildings. According to the Minister, HYDRA’s role is limited to maintaining public spaces and traffic regulations.
Speaking at a special bankers’ conference held at Praja Bhavan on Wednesday, Bhatti clarified that government departments such as GHMC and Town Planning would handle all approvals for construction projects. He assured that HYDRA would focus only on preventing encroachments and managing traffic, while the departments would continue to oversee the construction process.
As the State Finance Minister, Bhatti also announced that the government has committed to providing Rs 20,000 crore in interest-free loans to Self Help Groups (SHGs) this year. He added that if possible, this amount could be increased. He urged bankers to work with social responsibility, pointing out that corporate commercial banks were charging high interest rates, between 9 to 13 per cent. He called for simplifying the process of extending loans.
Bhatti highlighted the impressive loan recovery rate of SHGs, which stands at over 98 per cent, contrasting it with the low recovery rate in the private sector. He suggested that bankers should offer more loans to women SHGs at lower interest rates. He also revealed that the government is considering purchasing buses and leasing them to SHGs to boost their income.
Moreover, Bhatti shared that micro, small, and medium-scale industrial parks are being established in every constituency, with special allocations being made for women. He encouraged bankers to support these initiatives, stating that their cooperation would promote economic development and create livelihood opportunities, especially in rural areas.
The Deputy CM further announced that the government decided to provide interest-free loans worth Rs 3,000 crore in Hyderabad, with plans to increase the amount to Rs 5,000 crore. He stressed the importance of industrial parks, noting that after agriculture, MSME units are the largest employers in the State.
Bhatti concluded by calling on the banking sector to collaborate in making Telangana a progressive State. He urged banks to expand their branches, stating that as the number of banks grows, so will the State’s development.
