Bhatti Vikramarka requests banks to focus on MSME loans
Deputy Chief Minister Mallu Bhatti Vikramarka has urged banks to prioritize loans for micro, small and medium enterprises (MSMEs) and marginalized entrepreneurs. He emphasized the importance of educational loans as investments in the youth and called for support for renewable energy projects. The Telangana government aims to achieve a US $3 trillion economy by 2047, highlighting the state's strong growth rate and commitment to welfare and empowerment initiatives.
- ▪Mallu Bhatti Vikramarka requested banks to focus on MSME loans and support marginalized entrepreneurs.
- ▪He highlighted the importance of educational loans and renewable energy project financing.
- ▪The Telangana government aims to become a US $3 trillion economy by 2047, with a current growth rate of 10.7%.
- ▪The state's Credit-Deposit ratio reached 130.78%, reflecting strong banking support for agriculture and welfare schemes.
- ▪Interest-free loans for self-help groups were increased from ₹5 lakh to ₹10 lakh to promote women's empowerment.
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Deputy Chief Minister Mallu Bhatti Vikramarka has requested banks to focus on providing loans to micro, small and medium enterprises (MSMEs) as well as to women, Dalit and tribal entrepreneurs.Banks are requested to adopt a more positive approach towards educational loans as loans to students are investments for the future of youth, he said at the 49th State Level Bankers’ Committee meeting here on Friday.He recalled the growing dependence on renewable energy sources and said banks should actively consider supporting solar projects, rooftop panel installations and other environment-friendly initiatives financing them.
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