Banks pressure farmers on loans
Banks Pressure Farmers on Loans In Andhra Pradesh. Notwithstanding the promise made by Chief Minister N Chandrababu Naidu and his subsequent signing the file to waive farm loans, the Banks are serving notices to the farmers to repay the loan amount within stipulated time.
In spite of the decision taken by the Telugu Desam Government on agriculture loan waiver, the farmers continue to face bitter experiences in regard to existing loans
Guntur: Notwithstanding the promise made by Chief Minister N Chandrababu Naidu and his subsequent signing the file to waive farm loans, the Banks are serving notices to the farmers to repay the loan amount within stipulated time. The farmers are now a worried lot not knowing how to react to the notice and what would happen if they do not repay the loans.
Chandrababu Naidu has been stating for the last three years that the farm loans would be waived. He even asked the farmers not to repay the loans. The farmers hoped that the agriculture loans would be waived.
After witnessing the swearing-in ceremony of Chandrababu Naidu, they thought the loans were waived with one signature. Chief Minister Chandrababu Naidu has also announced that a committee on loan waiving would be formed to study the issue and the committee would submit the report in 45 days to determine the guidelines for loan waiving.
However, the managements of SBI, Andhra Bank, Chaitanya Godavari Grameena Bank have issued notices to at least one thousand farmers in Prattipadu, Pedanandipadu and Kakumanu mandals in Guntur district to repay the loans.
The notices stated that the loans should be repaid within fifteen days after receiving the notices and if they failed the gold would be auctioned and the property would be
The farmers, expressing anguish over the notices, said that they hardly had any means to repay the loans. They went to the Banks and staged dharna demanding withdrawal of the notices.
The SBI branch manager at Kakumanu explained that the notices were issued two months back and the farmers were receiving them now. He clarified that the farmers need not pay the loans till the government announced the guidelines.