The Reserve Bank of India finally agreed for the loans rescheduling in Andhra Pradesh and Telangana. But to the utter dismay of the government and farmers, RBI completely got it wrong. According to RBI’s letter, the loans rescheduling will only cover 3 districts of Telangana and 4 districts of Andhra Pradesh. In Andhra Pradesh, 120 mandals out of Srikakulam, Viziangaram, Krishna and Nellore districts.
Interestingly the apex bank completely forgot the drought prone Rayalaseema districts and East and West Godavari districts affected by natural calamities. The government in its report did not ask for loan rescheduling in Nellore but RBI announce it for that district. Similarly, the apex bank only allowed loan rescheduling of loans below One Lakh for 3 years including the first year moratorium.
If the RBI refuses to revise this proposal, government will only get a relief of 4700 Crores due to the loans rescheduling. Chandra Babu Naidu will very soon write a letter to RBI with actual figures requesting it to reconsider the proposal. Also RBI’s recent letter lacked clarity over several issues, a clarification regarding it will also be sought.