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Deposit money in farmers’ accounts: AP Told
Fearing that any further delay in implementation of the loan waiver scheme could cause serious political damage, the Andhra Pradesh government is understood to have decided to deposit the loan amount up to a maximum of Rs 1.5 lakh directly into the accounts of the farmers.
- Govt gives up hopes of RBI agreeing to reschedule loans
- Jaitley reportedly tells AP CM pressure cannot be put on banking regulator
- Naidu is now in a fix over how to mobilise funds
Hyderabad: Fearing that any further delay in implementation of the loan waiver scheme could cause serious political damage, the Andhra Pradesh government is understood to have decided to deposit the loan amount up to a maximum of Rs 1.5 lakh directly into the accounts of the farmers.
According to a source, this suggestion was given by the Centre to the AP Chief Minister N Chandrababu Naidu during his two-day visit to New Delhi on Monday. The source said the government had already given up hopes of RBI agreeing for rescheduling of loans as the Union Finance Minister Arun Jaitley told Naidu that they cannot put pressure on the RBI in view of the ensuing elections to some State Assemblies. The Centre instead suggested the AP government to directly deposit the loan amount into the accounts of the farmers, so that they could clear the loans.
But the mute question which the government is now facing is how to mobilise such huge funds.
However, it has sent letters to banks to give details of farmers who had taken agricultural loans. It also said to have sent a 30-column paper with which it could find out minute details of each farmer and weed out bogus borrowers.
Sources further disclosed that the Union Finance Minister advised the AP CM that it would be better if the government paid the amount directly into the accounts of the farmers for them to pay the banks for repayment of loan.
