Thu Dec 18 15:13:07 UTC 2025: Here’s a summary and a news article based on the provided text:

Summary:

RBI Governor Sanjay Malhotra met with Telangana Chief Minister A. Revanth Reddy to discuss financial initiatives and reforms in the state. Malhotra urged the state government to implement the BUDS Act and briefed the CM on the Unified Lending Interface and the Deposit Claim campaign. Reddy outlined the reforms being implemented by his government, particularly in the energy sector. Malhotra praised Telangana’s fiscal policies and encouraged further progressive reforms.

News Article:

RBI Governor Urges Telangana to Enact BUDS Act Amid Fiscal Policy Praises

Hyderabad – December 18, 2025 – Reserve Bank of India (RBI) Governor Sanjay Malhotra has called on the Telangana government to notify the Banning of Unregulated Deposit Schemes (BUDS) Act within the state. The request was made during a meeting with Chief Minister A. Revanth Reddy on Thursday evening, coinciding with the RBI board meeting held in Hyderabad.

During the meeting, Governor Malhotra briefed Chief Minister Reddy on key RBI initiatives, including the Unified Lending Interface (ULI) and the ongoing Government Private Deposit Claim campaign. He emphasized the importance of the BUDS Act in protecting citizens from fraudulent deposit schemes.

Chief Minister Reddy highlighted the various reforms undertaken by the Congress government in Telangana, with a particular focus on the energy sector. He detailed the decision to establish a new power distribution company specifically designed to cater to government-supported energy needs.

Governor Malhotra expressed his appreciation for the fiscal policies currently in place within Telangana, urging the government to continue pursuing progressive reforms.

Read More