Nizamabad: The Rythu Bandhu scheme which offers financial aid to farmers is a boon not only to the farming community, but also for the banks.
The scheme has helped bankers in Telangana state to streamline their non-performing assets (NPAs).
In the ensuing Kharif season, under the scheme, the state government has begun disbursing Rs 5,000 per acre to farmers. The amount is being directly transferred into their accounts. This has helped a few bankers to recover crop loans dues from farmers.
In Nizamabad district as many as 30,000 crop loan accounts were classified as NPAs. These farmers had either failed to repay their loans as they had hoped for a waiver, while some forgot to re-schedule their loans.
A crop loan taken from a commercial bank should be repaid within one year. If a farmer is unable to repay the crop loan, they should re-schedule the loan for the next year.
Nearly 2.18 lakh farmers in the district were provided financial aid under the Rythu Bandhu scheme in two phases. Initially, cheques were given.
However in the present Kharif season money is being directly transferred into the accounts of the farmers. As per the digital arrangements, the saving bank accounts of farmers automatically adjust the amount to the pending crop loans.
As the amount deposited in the farmers accounts gets automatically adjust to the dues owned, farmers are unable to go ahead with sowing in the present Kharif season. A section of farmers are visiting the agriculture offices and requesting bankers to release the amount.
