Big move for Hyderabad's infrastructure: State Bank of India (SBI) set to become main lender for city’s Metro projects . Comes after two days of intense talks with top political figures — Chief Minister A Revanth Reddy, Union Coal Minister Kishan Reddy, Railway Minister Ashwini Vaishnaw,Urban Development Minister Manohar Lal Khattar.
New financing model aims to secure funds at about 2% interest. Much better than nearly 9% if state went solo . This could help the Metro Rail Phase-I takeover and push into Phase-II . But don’t expect Indian Rail Finance Corporation (IRFC) to jump in — its focus is railways, not metros.
Political friction between Reddy and Kishan Reddy has cooled. Chief Minister once accused Union Minister of blocking Metro expansion. Kishan Reddy's work with Union ministers has been key in pushing project forward. Talks have created more cooperative vibe, clearing path for Phase-I and Phase-II.
Officials stay wary, citing potential procedural delays in Metro Phase-I takeover. But recent talks have made environment more conducive for progress. Beneficial for both leaders: Reddy gets low-cost funds for infrastructure,Kishan Reddy shows he can solve problems and secure solutions . But will it hold…?
