RBI releases Rs 2,600 crore for banks in Telangana for lending to farmers
DSIJ Intelligence / 05 Jul 2017
The Reserve Bank of India, released Rs 2,600 crore for the banking community in Telangana for lending to farmers in the ongoing kharif season.
On Tuesday,the Reserve Bank of India, released Rs 2,600 crore for the banking community in Telangana for lending to farmers in the ongoing kharif season.
According to an official release, the amount was more than the earlier commitment of Rs 1,700 crore made by the centre to the state.
"As per the directive, the RBI, on Tuesday, July 4, 2017, released Rs 2,600 crore; Rs 900 crore more than the tentative commitment of Rs 1,700 crore made as of July 1, 2017," the release said.
"On the subject of availability of cash to the farmers of Telangana for the kharif season, Arun Jaitley (Finance Minister) directed the RBI to release more funds to the banks in Telangana and advised the banking community to utilise the funds for farmers.”
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