Hyderabad: Deputy Chief Minister Bhatti Vikramarka Mallu sought bankers’ help to launch the Rajiv Yuva Vikasam scheme on June 2. The Dy CM explained the government’s objective of launching the scheme at the State Level Bankers Committee (SLBC) meeting held on Thursday.

The Deputy Chief Minister emphasised that the state government has set a goal to distribute sanction letters to 5 lakh unemployed youth under the “Rajiv Yuva Vikasam” self-employment scheme on June 2, Telangana Formation Day. He urged bankers to extend their full cooperation to achieve this target.

He highlighted that educated and skilled human resources going unused is a net loss to society and stressed the importance of channeling their intellect into productive sectors, thereby boosting the state’s GDP.

He stated that no other state in the country has ever launched a scheme like this, which offers financial assistance of Rs 9,000 crore to 5 lakh youth. For those who do not secure government jobs, the government wants to leverage their talents in entrepreneurship and industry, he said, requesting that the SLBC appoint a special nodal officer to ensure coordination across all banks, with proper monitoring at the field level.

Bhatti appealed to bankers to participate actively in the state’s development and help achieve the 2025–26 Annual Credit Plan targets. He reiterated the need for banks and governments to work together to fulfill their social responsibilities, which would lead to a peaceful and prosperous society.