Deputy Chief Minister of Telangana Bhatti Vikramarka
The banking and financial sectors must become key partners in Telangana’s goal of transforming the State economy into a $1 trillion economy by 2034 and a $3 trillion economy by 2047, Deputy Chief Minister Bhatti Vikramarka said.
Addressing the bankers at the 50th State Level Bankers’ Committee (SLBC) meeting held here on Wednesday, he said Telangana Rising 2047 was not merely a vision document, but a development pact with the people of Telangana.
Vikramarka asked banks to formulate a Telangana Rising 2047 Banking Roadmap with clear annual targets covering vital sectors of the economy and draw up region-specific credit strategies.
To transform Telangana into a $3 trillion economy by 2047, the banking sector must also transform, the Deputy Chief Minister said.
As the rural and agricultural sectors were the foundation of Telangana’s economy, farmers should receive loans precisely when they needed them. “Farmers should not have to search for banks for loans; the banking system itself should reach the farmers,” he said.
Appreciating the disbursal of ₹52,337 crore as agricultural loans by banks as of June 2026, he said timely disbursement of credit was also equally important.
The Micro, Small and Medium Enterprises (MSME) sector would play a crucial role in transforming Telangana into a $3 trillion economy and for entrepreneurs, receiving funds when they were needed was more important than the sanction of the loan.
Despite the large number of Jan Dhan accounts in the State, nearly 19.13 lakh accounts had zero balance, the Deputy Chief Minister said, adding that true financial inclusion does not mean merely opening accounts, but also encouraging account holders to save, obtain insurance, and access credit.
Copyright© 2026, THG PUBLISHING PVT LTD. or its affiliated companies. All rights reserved.
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.
Source: Read the original article on www.thehindubusinessline.com