Hyderabad: Dy CM tells banks to not worry about HYDRAA for constructions

Hyderabad: Deputy chief minister Bhatti Vikramarka has informed the bankers not to be worried about the prospects of the Hyderabad Disaster Response Assets Monitoring and Protection Agency (HYDRAA) giving permissions for constructions under the Greater Hyderabad Municipal Corporation’s (GHMC) limits, and that the state government agencies which have been issuing various permissions will continue to do so.

During a special meeting of the state-level bankers committee held at Praja Bhavan on Wednesday, Bhatti said that the state cabinet has decided to extend a total of Rs 20,000 crore as interest-free loans for the women’s self-help groups (SHG) across the state, with Rs 3,000 crore to be given to SHGs within the twin-cities.

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He urged the bankers to provide loans even above that target, as the loan recovery rate from SHGs was found to be more than 98 percent, and there would be less risk in lending them.

He also pointed out that the Telangana government was going to purchase buses through SHG women, which would be ferried in the Telangana State Road Transportation Transportation Corporation (TGSRTC) and was also setting up micro, small and medium enterprise industrial parks, which will empower the SHG women to become entrepreneurs.

Also expressing concerns over corporate commercial banks charging an interest of up to 13 percent on loans, Bhatti urged the bankers to provide more loans for the MSME sector.

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