Bhatti Seeks Banks' Cooperation in Achieving Yuva Vikasam Goals

Reveals govt's plan to distribute sanction letters to 5L youth on June 2

- EXPRESS NEWS SERVICE @ Hyderabad

DEPUTY Chief Minister Mallu Bhatti Vikramarka on Thursday urged bankers to extend their full cooperation in achieving the objectives of the Rajiv Yuva Vikasam scheme. He stated that the state government aims to distribute sanction letters to five lakh unemployed youth under the scheme on June 2.

Addressing the State Level Bankers Committee (SLBC) meeting here, he emphasised that allowing educated and skilled human resources to remain underutilised is a loss to society. He stressed the importance of channelling their talents into productive sectors, thereby contributing to the state's Gross Domestic Product (GDP).

He noted that no other state in the country has implemented a scheme of this scale, which provides financial assistance of ₹9,000 crore to five lakh youth. Of this amount, ₹6,250 crore will be given as a government subsidy.

The deputy CM highlighted a significant change in the scheme's structure—while previously the loan-to-subsidy ratio stood at 70:30, it has now been reversed, favouring a larger subsidy portion.