The Telangana Government has set the annual credit target for the year 2023-24 at ₹2.42 lakh crore, indicating a 13.42 per cent increase from the previous year’s target of ₹2.14 lakh crore.
Finance Minister T Harish Rao announced this at the State Level Bankers’ Committee (SLBC) meeting.
Out of the total credit target, a lion’s share has been given to the priority sector at ₹1,85,326 crore, including ₹1,12,762 crore for agriculture.
Addressing the bankers, Rao said banks in Telangana were among the ‘top’ in the country in terms of deposits and emphasized their expanding branch network in rural areas.
“The State Government will extend all necessary support in this regard,” the finance minister added. Additionally, the minister addressed the issue of some banks charging additional interest on repaid loans by Self Help Groups, stating that the government has taken notice of this matter.
The banks were also directed by the minister to adhere to the specific timelines for extending crop loans in line with agricultural seasons.