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KCR Asks For Complete Details Of Farm Loans From Bankers

Telangana Chief Minister K Chandrasekhara Rao today directed the bankers to come up with all detailed reports within a week pertaining to farmers, who got loans from June 2013 to June 2014.
Inaugurating the first bankers’ meeting at Secretariat here on Wednesday, the Chief Minister said his Government was committed to keep the promise of loan waiver to farmers in two weeks. Finance Minister Etela Rajender and Agriculture Minister P Srinivas Reddy were present at the meeting.

According to the information, Rs 10,000 crores would waived benefiting some 23 lakh farmers in 10 Telangana districts. Keeping in view their poll promise and the plight of the farmers, who are awaiting succor, KCR said bankers’ cooperation was very much needed for the government to implement its promise. He asked the bankers to submit reports of district-wise farm loans given to the farmers.

The Chief Minister said farm loan waiver was one of the important promises that he had made during the elections. This was aimed at benefiting 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 last year. The benefit would be up to a maximum of Rs 1 lakh per farmer.

KCR also requested the banking fraternity to extend their cooperation in this endeavour for extending a helping hand to the farmers as they deserve all kinds of support. He further said, “I know the difficulties of a farmer as a practical farmer as I am used to attend my field two to three days in a week.”

Later, Finance Minister Etela Rajender said they would waive the farm loans. “Our Government will take a decision in this regard once the bankers gave the report sought by tomorrow. We will again call the bankers meeting next week and then take a decision on farm loan waiver”, Rajender maintained. The TRS Government will announce farm loan waiver in a couple of weeks. Only farm loans taken from June 1, 2013 to June 2014, would be waived, he said, adding that loans taken earlier and those of gold are not being waived.

Chief secretary Rajiv Sharma asked the bankers to include all details of loans taken, norms to be followed for waiver and reschedule and fresh loans. Government advisor AK Goel said about Rs 10,000 crore loans are likely to be waived. Principal Secretary, Finance Nagi Reddy said he would review the issue next Monday. RBI GM RM Das extended support to the government in this regard.

The inaugural meeting of SLBC of newly formed Telangana State was conducted here on Wednesday. Santanu Mukherjee, president, SLBC of Telangana and MD of SBH, presided over the meeting. Chief Minister K. Chandra Shekar Rao garu, Minister for Finance E. Rajender and Minister for Agriculture P. Srinivasa Reddy were guest of honour.
Chief Secretary, Rajiv Sharma and other senior Secretaries of Finance and Agriculture and Bank officials participated in the meeting.

Nagi Reddy,Prl.Secretary (Finance) requested the bankers to furnish the details of crop loans within a week by evolving a common proforma. Managing Director, State Bank of Hyderabad complimented the Chief Minister and said their bank was 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.

R.M. Das, General Manager, RBI 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. A.K. Goel, Advisor to Government suggested by taking all practical considerations that the loan waiver amount may be around 10,000 crores . The actual quantum of waiver amount would be known once the information is gathered and analysed. J. SitapathySarma, General Manager, SBH and Convenor of SLBC Telangana also spoke.

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