Hyderabad: Deputy Chief Minister and Finance Minister Bhatti Vikramarka on Friday underscored Telangana's exceptional credit-deposit ratio (CDR) of 130.7%, stating that it reflects the robustness of the state's banking activity and the unwavering commitment of the people's government to transform Telangana into a $3 trillion economy by 2047.
Banking Performance Highlights
Speaking at the State Level Bankers’ Committee (SLBC) meeting, Bhatti Vikramarka revealed that total bank deposits in the state have reached nearly ₹9.4 lakh crore, while advances have touched ₹12.3 lakh crore. He described this performance as a strong indicator of economic momentum. Expressing satisfaction over banks surpassing agricultural loan targets, he noted that against a target of ₹1,65,297 crore, banks disbursed ₹1,68,401 crore, achieving 101.8% of the goal. He emphasized that agriculture is the backbone of Telangana’s economy and appreciated banks for supporting farmers, dairy farmers, fishermen, and allied sectors through schemes such as Kisan Credit Cards.
Focus on Industrial Growth and Inclusive Lending
Describing Telangana as one of the fastest-growing industrial states in the country, the Deputy Chief Minister urged banks to increase lending to micro, small, and medium enterprises (MSMEs) and to expand credit access for women, Dalit, and tribal entrepreneurs. He also appealed for a more positive approach towards educational loans, describing student loans as investments in the future of the youth. He reiterated that the government has demonstrated that welfare and development can move together like twin engines.
Renewable Energy and Social Security
Reiterating the government’s commitment to inclusive development, farmer welfare, women’s empowerment, and employment generation, Bhatti Vikramarka noted that the world is increasingly focusing on renewable energy, and Telangana is making steady progress in the solar power sector. He urged banks to support solar projects, rooftop solar installations, and other environmentally friendly initiatives through financial assistance. He also stressed the need to bring more people under social security and insurance schemes.
Strategic Partnership for Development
Bhatti Vikramarka emphasized that banks should act not merely as institutions that collect deposits and provide loans, but as strategic partners in the state’s development. He stated that lending decisions should be aligned with sectors that contribute to Gross State Domestic Product (GSDP) and employment generation. He asserted that the $3 trillion goal by 2047 is ambitious but achievable given Telangana’s growth trajectory, pointing out that while the national average growth rate is 8.2%, Telangana is growing at 10.7%. He added that Telangana’s per capita income has reached ₹4.18 lakh, compared to the national average of ₹2.1 lakh.
