Telangana Chief Minister A Revanth Reddy on Saturday commenced a crucial tour to Mumbai and New Delhi, aimed at addressing the state government's response to the State Bank of India's (SBI) legal challenge over the auction of prime government land in Hyderabad's IT corridor and advancing long-pending metro rail issues with the central government.
SBI Legal Challenge Raises Concerns
Sources indicated that the chief minister is likely to raise with senior Reserve Bank of India (RBI) officials and the Union government what the state perceives as SBI's unusual decision to approach the courts against the government's auction of land at Raidurg Knowledge City. The issue has sparked intense discussions within the state administration, with officials expressing concern over its potential impact on investor confidence and Hyderabad's image as a business destination.
Before departing for Mumbai, Revanth chaired a high-level review meeting on the controversy surrounding SBI's legal action. According to sources, the meeting examined the broader implications of the bank's move and discussed possible courses of action available to the government.
Political Angle Suspected
Sources familiar with the deliberations said there was a view within the meeting that political factors could be behind the bank's decision to challenge the auction. “It may not be just a routine financial dispute or land issue. There could be more to it. There is a strong suspicion of a political angle in it with an opposition party trying to project the Congress government in a poor light and to claim that ‘Brand Hyderabad’ was taking a beating under the incumbent government. The SBI chairman hails from Telangana. Whether he was influenced by a political party or not, the truth will come out ultimately. The CM was of the view that a complaint should be lodged with the RBI seniors. Now, it is up to him to lodge a complaint or not,” said a source privy to the meeting.
Officials pointed out that disputes involving public sector financial institutions and state governments are generally resolved through dialogue and administrative channels. SBI's decision to move the high court, however, has raised eyebrows in official circles and fueled speculation about possible political undercurrents. The state government has been particularly upset over the bank challenging the auction of 5.9 acres of government land in Raidurg Knowledge City.
Metro Rail Funding on Agenda
Meanwhile, Revanth attended the wedding of NCP-SP MP Supriya Sule's daughter in Mumbai on Saturday before proceeding to Delhi, where he is expected to stay on June 22 and 23. During his visit to the national capital, the chief minister is likely to meet Union Finance Minister Nirmala Sitharaman and Railway Minister Ashwini Vaishnaw.
In preparation for the meetings, Revanth wrote to Union Coal Minister G Kishan Reddy seeking his intervention in arranging an appointment with Vaishnaw. In his letter, the chief minister stressed the need to resolve key issues concerning Hyderabad Metro Rail (HMR), including the pending Rs 13,600 crore loan matter linked to metro rail phase-I and obtaining clarity on the proposed metro rail phase-II project.
Referring to his earlier communication dated June 16, Revanth highlighted the urgency of resolving issues related to financing through the Indian Railway Finance Corporation and securing support for the expansion of HMR. Emphasizing the importance of the metro rail network to Hyderabad's future growth, Revanth noted that the project remains a critical urban infrastructure initiative for the city.
Sources in the chief minister's office also did not rule out the possibility of Revanth meeting senior AICC leaders during his Delhi visit.
