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Banks to lend Rs 6750 cr for water scheme

Wed, Aug 17, 2016, 07:39 PM
Hyderabad Aug 17 (): A consortium of 7 banks being headed by Andhra Bank today came forward to extend about Rs 6750 cr to partner with Mission Bhagiratha – the flagship program of Telangana state government to provide piped safe waters to every house hold.

At Andhra Bank head office Panchayat Raj Secretary SP Singh, Finance principal secretary Ramakrishna Rao, Secretary and Information Commissioner Navin Mittal and others held a meeting with the consortium attended by Andhra Bank Chairman and Managing Director Suresh N Patel and others.

Of the total, the following banks will give loans for the drinking water scheme including Andhra Bank will offer Rs 1300 Cr, Dena Bank Rs 500 Cr, Punjab and Sindh Bank Rs 700 Cr, Syndicate Bank Rs 1000 Cr, Bank of Maharashtra Rs 1000 Cr, Indian Bank Rs 750 cr and Allahabad Bank Rs 500 Cr respectively.

Suresh Patel said that they have already promised to extend Rs 1300 cr loan for the same project. We are happy to partner with the state government to supply safe and potable waters to the rural pockets, he added.

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