Reserve Bank of India earlier announced the Loan Rescheduling for 120 Mandals in Andhra Pradesh spreading over 4 districts. Andhra Pradesh government is not happy with the limited coverage of the program and dashed a letter to RBI to extend the program. AP Chief Secretary IYR Krishna Rao met RBI Governor Raghu Rama Rajan the other day and requested him to reconsider the decision.
Rajan reportedly told him that the apex bank is not ready to pressurize banks for Loan Waiver. IYR Krishna Rao however clarified that they are not seeking the help of the apex bank or the state bankers regarding the loan waiver but only asking them to do the loan rescheduling according to the rules. However Rajan told him clearly that RBI’s decision is final and there is no chance for considering rescheduling beyond 120 Mandals.
It is known that Loan Waiver to farmers is one of the prime promises of TDP before the elections. Opposition parties are waiting to government fail in this issue and hound the ruling party in this aspect. So, Chandra Babu does not want to leave out any chance to them and fulfill this promise at any cost. Chandra Babu already announced 1.5 Lakhs per family waiver which will make 97% of the families in AP debt free.
