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Deputy Chief Minister Bhatti Vikramarka urged lenders to lend freely to self-help organizations, small and medium-sized business owners, and farmers. Bankers have been instructed to provide agricultural loans during the Rabi season at a 100% rate.

While Rs 54,480 crore was the aim for the 2024 Kharif season, Bhatti Vikramarka said that Rs 44,438 crore was disbursed, which accounted for 81.57 percent of the target. According to him, the loan application procedure had to be expedited since the Rabi season is still one month away. Using the tagline “Telangana Ris-ing,” he urged the lenders to take a long-term perspective.

He said that while bank repayments have climbed, loan approvals have declined, and this discrepancy has to be fixed. The finance minister believed that corporate loans would cause the economy to become concentrated in the hands of a small number of people. Therefore, in addition to large corporations, banks should support micro, small, and medium-sized businesses.

According to Bhatti, the government offers interest-free loans of Rs 20,000 crore annually with the goal of promoting women entrepreneurs. In the next five years, the government aimed to convert one crore women into crorepatis.

He said that the government had set a goal to create 4,000 MW of solar power and had inked an MOU with self-help organizations to generate 1,000 MW of solar electricity. According to Bhatti, lenders should give funding for green power in light of the significance of producing green energy throughout the nation.

Since the state government had already waived farmer debts up to Rs 2 lakh and would soon be providing Rythu Bharosa, he believed that if the banks met their goal and provided loans to farmers, agriculture would become sustainable and lucrative for them.