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RBI against loan waivers in AP
By: Tupaki Desk | 17 Jun 2014 5:01 AM GMT
At a time when Chandrababu is mulling about implementing the prestigious loan-waiver scheme here comes big shock for him.Reserve Bank of India made it clear that they are completely against loan waiver scheme announced by AP government.
In a letter to the government of Andhra Pradesh, they opined that the loan-waiver schemes would spawn a culture of nonpayment and would impact the financial sector. It said that such moves will indirectly affect the morale of people who repay the loans honestly.
RBI has also cleared that they are not ready to accept government bonds as securities. They cleared that waiver of loans could be done only after the principal amount is repaid. The latest decision by RBI turned shocker to TDP government and Chandrababu is going to meet the RBI officials soon on the issue.
Other side Chandrababu is considering about all the possible ways to implement the scheme. According to source Naidu is contemplating to waive off loans upto 2 lakhs including gold loans.Recently Errabelli Dayakararao hinted over this by saying that Naidu shared the same with him.We need to see how Chandrababu will proceed on ThisÂ…
In a letter to the government of Andhra Pradesh, they opined that the loan-waiver schemes would spawn a culture of nonpayment and would impact the financial sector. It said that such moves will indirectly affect the morale of people who repay the loans honestly.
RBI has also cleared that they are not ready to accept government bonds as securities. They cleared that waiver of loans could be done only after the principal amount is repaid. The latest decision by RBI turned shocker to TDP government and Chandrababu is going to meet the RBI officials soon on the issue.
Other side Chandrababu is considering about all the possible ways to implement the scheme. According to source Naidu is contemplating to waive off loans upto 2 lakhs including gold loans.Recently Errabelli Dayakararao hinted over this by saying that Naidu shared the same with him.We need to see how Chandrababu will proceed on ThisÂ…
