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Chandrababu manages to pacify RBI
Chandrababu Naidu Manages to Pacify RBI. The palpable efforts put in by Chandrababu Naidu, the Chief Minister of Andhra Pradesh, have turned fruitful as RBI agreed for the state government’s proposal of farm loan waiver. Chandrababu has reportedly talked to RBI governor Raghu Ram Rajan.
Hyderabad: The palpable efforts put in by Chandrababu Naidu, the Chief Minister of Andhra Pradesh, have turned fruitful as RBI agreed for the state government’s proposal of farm loan waiver. Chandrababu has reportedly talked to RBI governor Raghu Ram Rajan. Later it was revealed that the top bank has agreed for rescheduling of the loans. Agriculture Minister Prathipati Pulla Rao confirmed this advance.
According to the rescheduling, the loans of the farmers will be rescheduled to a period of 3-5-7 years. Government or Farmers will have to repay these loans in small amounts every year. However a higher interest rate will be collected after rescheduling. In this case as the government promised loan waiver, the rescheduled amount will be paid by the government. The banks now will give fresh loans for farmers in Kharif season even without repaying the loans.
With the doors opened for Andhra Pradesh, a similar decision is speculated even in the case of Telangana state. Both TRS and TDP parties went into the elections with the promise of agriculture loan waiver to all farmers with a loan amount less than Rs 1 Lac. A detailed report on rescheduling is awaited.
