Telangana govt to distribute Rs 6,000 crore to farmers

Hyderabad, May 1: Under a new scheme to be launched on May 10, Telangana government plans to distribute Rs 6,000 crore among farmers as investment support.

Chief Minister K Chandrasekhar Rao on Tuesday said that the required funds and cash reserves for Rythu Bandhu scheme are deposited in the banks and the government will start distributing cheques among the farmers from May 10.

According to a statement from the Chief Minister's office, as on Tuesday, Rs 4,114.62 crore was kept ready in various banks. The state Finance Secretary is also meeting Reserve Bank of India officials to get another Rs 2,000 crore.

"By the time cheques are to be dispersed, Rs 6,000 crore cash reserves would be kept ready with the banks," he said. The funds are kept with SBI, Telangana Grameena Bank, Grameena Vikas Bank, Canara Bank, IOB, Corporation Bank, Andhra Bank and Syndicate Bank.