Telangana CM Revanth Reddy to Raise SBI Land Dispute with RBI and Centre in Delhi Visit
Telangana Chief Minister A. Revanth Reddy is expected to take up the controversy surrounding the State Bank of India’s (SBI) legal proceedings over a disputed land auction with the Reserve Bank of India (RBI) and the Union Government during his visit to New Delhi this weekend.
The Chief Minister, who left for Mumbai on Saturday, is scheduled to travel to the national capital on Sunday for a two-day stay. According to sources in the State government, he is likely to meet senior officials and submit representations regarding the role of SBI officials in the matter.
The Congress government has expressed concern over developments, viewing the issue as more than a routine financial dispute. Senior government sources stated that Mr. Revanth Reddy believes there is a political dimension to the controversy and suspects that leaders of the Bharat Rashtra Samithi (BRS) are attempting to exploit the issue to tarnish Telangana’s image among investors.
During internal discussions with party colleagues, the Chief Minister reportedly argued that the Opposition party’s primary objective was to damage Hyderabad’s reputation as a premier investment destination and create uncertainty about the State’s business environment. Such attempts, he is said to have contended, could adversely affect investor confidence and undermine Telangana’s efforts to attract fresh investments.
Meanwhile, officials are gathering information on the circumstances that led to the bank’s decision to pursue legal action. Sources pointed out that disputes involving public sector institutions and State governments are typically resolved through consultations and negotiations. The decision of a major public sector bank to move the courts against the government has therefore raised questions within the administration.
Additionally, the Chief Minister is likely to schedule meetings with the party high command amid rumours about a Cabinet expansion and the episode involving Meenakshi Natarajan.
