Hyderabad: Andhra Pradesh Chief Minister N. Chandrababu Naidu, is likely to hold a high-level meeting on Sunday to discuss waiver of farm loans in the wake of RBI’s decision on rescheduling of crop loans.
The TD government hoped that the rescheduling of Rs 10,500 crore as crop loan for 572 mandals as assured by the RBI earlier would come about.
In AP, 572 mandals out of 653 mandals across 13 districts were affected by cyclone and drought. This is what the AP government had told the RBI, asking for rescheduling of crop loans in all these mandals.
Initially, RBI gave an impression that it will reschedule accordingly. But, in its letter, it has informed the state government that it would reschedule the crop loans in 120 mandals of Srikakulam, Vizianagaram, Nellore and Krishna districts.
The RBI also said that the rescheduling of loans will not be applicable for those, who had pledged gold or to those, who mortgaged crops from these 120 mandals. It said that the rescheduling of crop loans in these 120 mandals will be for three years, including a one-year moratorium.
AP finance officials said that the amount of crop loans in 120 mandals will be around Rs 2,000 to Rs 2,500 crore.
Farmers belonging to these 120 mandals will get fresh loans from the banks. But, the fate of the farmers in the rest of the mandals is still in confusion.
Sources said, Mr Naidu may also meet with the committee on mobilisation of funds, headed by TD MP Sujana Chowdary on how to proceed regarding the issue.
