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Banks to lend 6,750 crore for Mission Bhagiratha scheme
A consortium of seven banks headed by Andhra Bank came forward on Wednesday to extend about Rs 6,750 cr to partner with Mission Bhagiratha – the flagship programme of the State government to provide piped safe drinking water to every household.
Hyderabad: A consortium of seven banks headed by Andhra Bank came forward on Wednesday to extend about Rs 6,750 cr to partner with Mission Bhagiratha – the flagship programme of the State government to provide piped safe drinking water to every household.
A consortium members meeting was held at Andhra Bank head office here on Wednesday under the chairmanship of Andhra Bank Chairman and Managing Director Suresh N Patel, and attended by Panchayat Raj Secretary SP Singh, Finance Principal Secretary Ramakrishna Rao, Secretary and Information Commissioner Navin Mittal and others.
Of the total Rs 6,750 cr, Andhra Bank will contribute Rs 1,300 cr, Dena Bank Rs 500 cr, Punjab and Sindh Bank Rs 700 cr, Syndicate Bank Rs 1,000 cr, Bank of Maharashtra Rs 1,000 cr, Indian Bank Rs 750 cr and Allahabad Bank Rs 500 cr.
Speaking to mediapersons later, Suresh Patel said that they had already promised to extend Rs 1,300 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.
