The State government in Hyderabad has set a target of providing interest-free loans totaling Rs 1 lakh crore to Self Help Groups (SHG) over the next five years. Deputy CM Mallu Bhatti Vikramarka emphasized the importance of extending loans not only to big industrialists, but also to the poor and middle classes during a meeting with the State Level Bankers Committee (SLBC) along with Agriculture Minister Tummala Nageswara Rao.
He highlighted the positive attributes of Telangana as a young and fast developing State, with investment opportunities for both domestic and international investors. Bhatti urged bankers to support the State’s development by providing loans to weaker sections and emphasized the need for a positive attitude from bankers for overall progress.
The Deputy Chief Minister also mentioned the upcoming introduction of a new power policy in Telangana and stressed that development is only possible when loans are increased. He called on banks to extend loans on a large scale, with the assurance that the State government is ready to support them in their efforts.
Bhatti Vikramarka underscored the importance of a social and humanitarian attitude from bankers, aligning with the objectives of Indiramma Rajyam and the development of various industries in Telangana. He assured full cooperation to the agriculture sector, including investment support under Rythu Bharosa, and emphasized the need for banks to provide loans to MSME and other industries in the industrial sector.
