Rajahmundry: With the Reserve Bank of India giving its clearance, the process of agriculture loan rescheduling has begun in East Godavari district. The three successive cyclones that hit the coastal district left a trail a destruction causing heavy damage to crops thousands of acres in these districts. The farming community suffered huge losses during the current year 2013-14
According to bankers, out of the Rs 2,500 crore agriculture loans disbursed during the year 3013-14, the agriculture loans accounted for Rs 1,200 crore. Following the clearance of the RBI, the farm loans will be rescheduled as per the decision taken at the district consultative committee (DCC) of the bankers.
On the other hand, the agriculture department had taken up the enumeration of the mandals and villages in which the crops were damaged due to the cyclones and heavy rains and is in the final stage of completion.
The lead bank district manager (LDM) S. Jagannadha Swamy on Thursday made it clear that the rescheduling was applicable to the agricultural loans sanctioned during the year 2013-14 only. "Resche-duling will be taken up bank wise after receiving the list of affected mandals from agriculture department,”, he added.
