RBI, which is convinced with AP Chief Minister Chandrababu Naidu’s arguments, is likely to make an official announcement on rescheduling of crop loans on Monday. According to latest information, RBI has agreed for imposing a moratorium for one year and planning to reschedule the crop loans for three years. Though, it gives a great relief to TDP government, it is trying to convince the RBI to extend the reschedule period to five years so as it can generate sufficient revenue by then and clear all the dues. State government has sent the concerned officials to Mumbai yesterday for further negotiations with RBI and to convince it to extend the reschedule period to five years.

However, one thing become clear that Chandrababu Naidu has kept his promise to waive off the loans within the time frame of 45 days that he sets on June 8th during his swearing in ceremony.