Telangana asks banks to keep Rs 60 billion cash ready for farmers scheme

The government has made arrangements to distribute cheques for half of that money in the first phase to 5.8 million farmers from May 10, 2018

Telangana government has asked banks to ensure that sufficient cash is kept for farmers ahead of the massive distribution of cheques under the farm investment support scheme being launched from the ensuing Kharif season.

After a spell of cash crunch, Reserve Bank of India(RBI) had increased the currency supply to the state at the request of the state government especially to facilitate cash withdrawals by farmers as they needed money for Kharif season, which starts in the month of June.

Last year, chief minister K Chandrasekhara Rao had announced Rythu Bandhu Scheme with a commitment to provide financial assistance of