RBI agrees for crop loans reschedule

Here is the good news for farmers and state government as well. RBI has agreed to reschedule the crop loans for a period of three years from now, as against AP Government’s request for seven years. Probably, it may apply this to Telangana farmers also. An official notification is likely to be given by RBI today evening or tomorrow.

AP CM Chandrababu Naidu, who is currently visiting in West Godavari district, told the farmers that he talked with RBI Governor about rescheduling the crop loans and is expecting some favorable announcement from RBI anytime and it happens within hours of his statement. Once, the RBI issues notification to bankers, farmers can approach the bankers for obtaining fresh loans. This will also ease the pressures on state governments. Chandrababu may find this enough time to generate revenue to repay the loans to bankers.