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RBI agrees to reschedule crop loans
By: Tupaki Desk | 16 July 2014 12:53 PM GMT
At a time when mixed signals are emerging from the Reserve Bank of India (RBI) on the possibility of rescheduling of crop loans, Finally here is the official word.The Apex bank has agreed to reschedule the loans of farmers in Both telugu states. RBI however sought more details on this issue and imposed certain condition son the government.
Contrary to AP government's request of seven years of rescheduling, RBI reportedly agreed it for three years and it has asked the government if they can repay the amount back in 3 years. RBI also asked the governments to send the details of the beneficiaries.
According to AP government sources an official letter will be received within couple of days.As soon as the letter is received, AP Finance ministry officials have sat for an emergency meeting in Secretariat.
AP government is planning to request RBI at least for 5 years since the state is under financial doldrums.AP finance minister Yanamala Ramakrishnudu said once the banks reschedule loans, farmers will be able to get fresh loans and they wonÂ’t be asked to repay loans immediately
Babu planning to held discussions with Kotatiah committee once he received official letter from RBI regarding rescheduling.Chandra Babu Naidu is expected to decide the amounts to be reimbursed basing on that.
Contrary to AP government's request of seven years of rescheduling, RBI reportedly agreed it for three years and it has asked the government if they can repay the amount back in 3 years. RBI also asked the governments to send the details of the beneficiaries.
According to AP government sources an official letter will be received within couple of days.As soon as the letter is received, AP Finance ministry officials have sat for an emergency meeting in Secretariat.
AP government is planning to request RBI at least for 5 years since the state is under financial doldrums.AP finance minister Yanamala Ramakrishnudu said once the banks reschedule loans, farmers will be able to get fresh loans and they wonÂ’t be asked to repay loans immediately
Babu planning to held discussions with Kotatiah committee once he received official letter from RBI regarding rescheduling.Chandra Babu Naidu is expected to decide the amounts to be reimbursed basing on that.
