Here comes some sort of good news for farming community of Residuary Andhra Pradesh state.The efforts of Chandra Babu led Andhra Pradesh government has worked on the Reserve Bank of India regarding the rescheduling of Farmers loans.
According to sources the apex bank which was reluctant to reschedule loans has finally agreed for rescheduling of the loans. Official communication from the Reserve Bank of India will reveal about this in a day or two
"The RBI has asked for some more information regarding the borrowers, We are expecting the banking regulator's nod for the farm loan reschedule very soon,"state finance minister Yanamala Ramakrishnudu told to media
Today Chandra Babu spoke with RBI governor Raghu Ram Rajan regarding this and later Chief Secretary IVR Krishna Rao had phone line meeting with RBI Deputy Secretary.While guidelines about loan waiver scheme yet to be revealed, the RBI has told the lead bank of SLBC, the Andhra Bank to reschedule the loans.
The decision of RBI comes as big relief to the ruling party which sees the loan recast as an immediate substitute for loan waiver.
According to sources the apex bank which was reluctant to reschedule loans has finally agreed for rescheduling of the loans. Official communication from the Reserve Bank of India will reveal about this in a day or two
"The RBI has asked for some more information regarding the borrowers, We are expecting the banking regulator's nod for the farm loan reschedule very soon,"state finance minister Yanamala Ramakrishnudu told to media
Today Chandra Babu spoke with RBI governor Raghu Ram Rajan regarding this and later Chief Secretary IVR Krishna Rao had phone line meeting with RBI Deputy Secretary.While guidelines about loan waiver scheme yet to be revealed, the RBI has told the lead bank of SLBC, the Andhra Bank to reschedule the loans.
The decision of RBI comes as big relief to the ruling party which sees the loan recast as an immediate substitute for loan waiver.