Required funds under scheme deposited in banks: CM

Telangana Chief Minister K Chandrasekhar Rao today said the required funds and cash reserves for providing investment support to farmers under the 'Rythu Bandhu Scheme' have been deposited in banks.

The first phase of distributing cheques under the 'Rythu bandhu' investment support scheme would start from May 10.

The government would provide financial assistance of Rs 8,000 per acre per year for two crops under the scheme.

Rao, who held a meeting with officials on the initiative today, said adequate arrangements have been made for the farmers to withdraw cash as and when they present the cheques in banks, a release from his office said.

The Chief Minister said Rs 4,114.62 crore was kept ready in various banks by May 1 and added that the state finance secretary was meeting Reserve Bank of India officials to make arrangements for getting another Rs 2,000 crore.