Taking U turn on loan rescheduling RBI had confirmed that there are no chances of rescheduling in Andhra Pradesh and Telangana States. RBI had found that the crops did not damage to the extent of doing loans rescheduling or loan waivers during the Cyclone.
RBI governor Raghuram Rajan had said that Reserve Bank will not encourage any measures which kill the banking system in the country. He said that Loan rescheduling in Andhra Pradesh and Telangana is more due to the extensive political promises given by parties.
The announcement of RBI stunned many farmers in the state who pinned hopes on loan waiver scheme.By sensing the situation Andhra Pradesh government tried to pump confidence on the farmers about loan waiver.
AP agricultural minister Pattipati Pulla Rao has assured that they are strongly commited to the loan waiver even though the RBI wouldnt help them. He said the CM will fulfill assurances given during the elections and added that government would waive the farm loans up to 1.5 lakh.
The minister said that the loan waiver scheme would take another 2 months to be implemented. He promised to introduce a special budget of around Rs 4000 crore for only agriculture in the next budget.
RBI governor Raghuram Rajan had said that Reserve Bank will not encourage any measures which kill the banking system in the country. He said that Loan rescheduling in Andhra Pradesh and Telangana is more due to the extensive political promises given by parties.
The announcement of RBI stunned many farmers in the state who pinned hopes on loan waiver scheme.By sensing the situation Andhra Pradesh government tried to pump confidence on the farmers about loan waiver.
AP agricultural minister Pattipati Pulla Rao has assured that they are strongly commited to the loan waiver even though the RBI wouldnt help them. He said the CM will fulfill assurances given during the elections and added that government would waive the farm loans up to 1.5 lakh.
The minister said that the loan waiver scheme would take another 2 months to be implemented. He promised to introduce a special budget of around Rs 4000 crore for only agriculture in the next budget.