Begin typing your search above and press return to search.
RBI no to Andhra Pradesh,Telangana
By: Tupaki Desk | 6 Aug 2014 4:14 AM GMT
During recent elections Telangana and Andhra Pradesh official parties announced Loan Waiver scheme for farmers. As part of the process the scheme sent for RBI approval few days back got some positive response.
Today RBI governor Raghuram Rajan given clear hints on the rejection of this benefit to people. As per him there is no drought situations in both the states and production of grains still more than expected, so there is no requisite of rescheduling of loans. He disclosed that these types of schemes are harm to economy and advised state governments to rethink before committing.
Opposition parties started agitations on this using this as a weapon. TDP and TRS both preparing to write an explanation to RBI governor to give more clarification on the farmers situation to close the issue positively.
Today RBI governor Raghuram Rajan given clear hints on the rejection of this benefit to people. As per him there is no drought situations in both the states and production of grains still more than expected, so there is no requisite of rescheduling of loans. He disclosed that these types of schemes are harm to economy and advised state governments to rethink before committing.
Opposition parties started agitations on this using this as a weapon. TDP and TRS both preparing to write an explanation to RBI governor to give more clarification on the farmers situation to close the issue positively.
