RBI releases 2,600 cr to Telangana

Hyderabad, July 05: At present situation, the Farmers have been suffering from cash crunch problems severely, From this aspect, the central govt has been given nod to release the 1700 crores immediately, but here they increased 900 crores on the request by the Union Minister Bandaru Dattatreya here on Tuesday.

Union Minister Bandaru Dattatreya requested the banks to distribute the cash received to farmers to tide over the cash crunch, particularly in rural areas. It may be mentioned here that Dattatreya met Jaitley on Monday on the availability of cash in the banks of Telangana for Kharif season.

Immediately, Jaitley directed the RBI to release more funds to Telangana and advised the banks to disburse funds among farmers.

Coming to matter, the Reserve Bank of India, as directed by the Union Finance Minister Arun Jaitley, on Tuesday released Rs 2,600 crore i.e., Rs 900 crore more than the commitment of Rs 1,700 crore.



Consequently, Adilabad, Nizamabad, Ranga Reddy, Warangal, Karimnagar, Khammam, Nalgonda and Mahbubnagar each would get Rs 150 to 200 crore i.e., Rs 50 crore more than what they have asked for.

Also, Medak and Hyderabad would get Rs 300 crore. Therefore, each bank branch in these districts would get Rs 30 to 50 crore more cash for distribution to the farmers through local banks.