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.
KCR, as Rao is popularly known, directed the bank officials not to use funds meant for the farmers for other purposes.
The authorities have printed required number of cheque books and passbooks of the farmers.
The Telangana Rashtra Samithi (TRS) government has announced that it will give financial assistance of Rs 8,000 per acre per year for two crops.
"We have decided to distribute 57.33 lakh passbooks to farmers all over the state.
Out of this, 4.60 lakh did not link their Aadhar cards. For 52,72,779 farmers who have linked their Aadhar cards, passbooks and cheques will be distributed," KCR said.