Hyderabad, Jun 4 UNI | 2 months ago

Telangana Chief Minister K Chandrashekar Rao today requested the banking fraternity to extend their cooperation in waiver of farm loan promised during the recent elections.


In his inaugural remarks at the State Level Bankers Committee (SLBC) meeting of newly-formed Telangana state here, Mr KCR mentioned that farm loan waiver was one of the important promises that he has made during the elections. This was aimed at benefitting the farmers, who are doing farming in spite of all the risks of failure in monsoon, spurious seeds, fertilisers, low amount of credit and low market price for the produce.

To support the farmers, the scheme would be aimed at all those who have availed agriculture crop loans during the last year, he said adding the benefit would be up to a maximum of Rs.one lakh rupees per farmer.

He also requested the banking fraternity to extend their cooperation in this endeavour for extending helping hand to the farmers as they deserve all kinds of support.

He said that, "I know the difficulties of a farmer as a practical farmer as I am used to attending my field two to three days in a week."

Principal Secretary (Finance), Mr Nagi Reddy, requested the bankers to furnish the details of crop loans within a week by evolving a common proforma.

While presiding over the meeting, SLBC President and State Bank of Hyderabad (SBH) Managing Director, Mr Santanu Mukherjee complimented the Chief Minister and said their bank is committed to the growth of the new state of Telangana and assured to extend financial support in the fields of Agriculture, Employment Generation.

He advised the bankers to submit the required details as per the proforma as desired in this regard and proposed to review the subject on Monday in order to arrive at the details of the scheme.

RBI General Manager R M Das, and other bankers participated and convened their views about the proposed loan waiver subject and assured to extend full support .

Dr Rajiv Sharma,Chief Secretary suggested to include the details pertaining to date of sanction of loan and date of disbursement of loan while furnishing the loan particulars.

Mr A K Goel, Advisor to Government, suggested by taking all practical considerations that the loan waiver amount may be around Rs.10,000 crores .

The actual quantum of waiver amount would be known once the information is gathered and analysed, he added.

Finance Minister Eetala Rajender and Agriculture Minister P Srinivasa Reddy were guests of honour at the meeting.

(Posted on 05-06-2014)