HYDERABAD: Deputy Chief Minister Mallu Bhatti Vikramarka on Thursday urged bankers to extend their full cooperation in achieving the objectives of the Rajiv Yuva Vikasam scheme. He stated that the state government aims to distribute sanction letters to five lakh unemployed youth under the scheme on June 2.
Addressing the State Level Bankers Committee (SLBC) meeting here, he emphasised that allowing educated and skilled human resources to remain underutilised is a loss to society. He stressed the importance of channelling their talents into productive sectors, thereby contributing to the state’s Gross Domestic Product (GDP).
He noted that no other state in the country has implemented a scheme of this scale, which provides financial assistance of Rs 9,000 crore to five lakh youth. Of this amount, Rs 6,250 crore will be given as a government subsidy.
The deputy CM highlighted a significant change in the scheme’s structure — while previously the loan-to-subsidy ratio stood at 70:30, it has now been reversed, favouring a larger subsidy portion.
Clarifying further, Vikramarka said that under the state’s Annual Credit Plan, which totals over Rs 8 lakh crore, banks are required to allocate only 0.2 per cent for this scheme. He also pointed out that the government continues to support students through fee reimbursement programmes, which help in producing a skilled and educated workforce.
“For those who do not secure government jobs, the government intends to leverage their talents in entrepreneurship and industry. This vision inspired Chief Minister Revanth Reddy and the Cabinet to launch this massive employment-generation initiative,” said the deputy chief minister and requested the SLBC to appoint a special nodal officer to ensure coordination across all banks, with proper monitoring at the field level.
Dream project
Meanwhile, affirming that agriculture remains a top priority, he emphasised the significance of horticultural crops and the government’s initiative to promote oil palm cultivation, describing it as a “dream project.” He urged banks to be liberal in sanctioning loans for oil palm farming.
Referring to election promises, he noted that the government had deposited Rs 21,000 crore into farmers’ accounts in a single instalment, clearing loans of up to Rs 2 lakh each.
Vikramarka also spoke about the Indira Soura Giri Jala Vikasam scheme, aimed at improving the living standards of forest dwellers.
He explained that the government has allocated Rs 12,600 crore to bring 6.7 lakh acres of forest land with Recognition of Forest Rights (RoFR) titles under solar-powered irrigation.
He further mentioned that Self-Help Group (SHG) women have received over Rs 20,000 crore in interest-free loans this year and added that the government aims to disburse Rs 1 lakh crore over the next four years.
The deputy CM said that the state’s new energy policy targets the production of 20,000 MW of green energy by 2030. The government is also working on reviving the Musi River in Hyderabad and developing industrial clusters between the Outer Ring Road and Regional Ring Road.
Vikramarka appealed to bankers to actively participate in the state’s development and help achieve the 2025–26 Annual Credit Plan targets.
Sandeep Kumar Sultania, principal secretary, Finance Department, N Sridhar, principal secretary, Scheduled Castes Development Department, Chinmoy Kumar, regional director, RBI Hyderabad, Uday Bhaskar, chief general manager, NABARD Hyderabad, Rajesh Kumar, chief general manager, SBI Hyderabad Circle, and Prakash Chandra Baror, general manager, SBI and convenor, SLBC Telangana, were among those who attended the meeting.