National banks in the State have provided loans of nearly ₹40,000 crore to the Telangana government for taking up Mission Bhagiratha and Mission Kakatiya among other programmes, said Union Bank of India (UBI) Deputy General Manager D. Chiranjeevi here on Wednesday.
UBI has given a loan of ₹2,500 crore to the State government, he said, and added that completion of the ambitious projects would transform Mahbubnagar district as irrigation facilities will be extended to 80% agricultural lands and migration of labour from the district to other parts of the country can be expected to finally come to an end.
Participating in a meeting of bank officials and customers here on Wednesday, Mr. Chiranjeevi said that the State government will witness a 25% growth rate in the coming five years as compared to the national average of 7%.
Sigh of relief
Referring to the Punjab National Bank fraud, he assured customers of national banks that the Union government would be responsible for every investment they made.
He said the UBI Telangana region had crossed ₹13,000 crore in terms of deposits and loan amount.
The local bank managers felicitated Mr. Chiranjeevi, who has been transferred to Mumbai central office.
