HYDERABAD: Deputy Chief Minister Mallu Bhatti Vikramarka on Wednesday urged the banking and financial institutions to be key partners in Telangana’s growth, and help in transforming the state into a $1 trillion economy by 2034 and a $3 trillion economy by 2047.
Speaking during the 50th State Level Bankers’ Committee (SLBC) meeting held at Praja Bhavan, he said: “This goal cannot be achieved through government expenditure alone. It requires large-scale private investment, strong financial institutions, deeper financial markets and innovative financing mechanisms.”
Vikramarka, who also folds the finance portfolio, further said: “Banks should not merely review how far they progressed in achieving the assigned targets, but should periodically assess what development has resulted from the loans extended, how many industries have been established and how many jobs have been created.”
Calling for dairy, fisheries, horticulture, oil palm, food processing and other allied sectors to be brought into the formal credit system, he said that the objective should not be restricted to providing loans to farmers, but to convert that credit into higher and sustainable agricultural income.
He lauded the banks for extending Rs 52,337 crore in agricultural loans as of June 2026.