CM KCR hits out at RBI over delay in crop waiver loans
Telangana took a brave decision to waive off Rs 17k crore loans
By : DC Correspondent
Update: 2014-11-11 01:03 GMT
Hyderabad: Telangana Chief Minister K. Chandrasekhar Rao on Monday blamed the Reserve Bank of India for delay in implementation of the crop loan waiver scheme. He said his government was successful in implementing the scheme despite the RBI creating hurdles.
Replying to a question on the loan waiver scheme in the Legislative Assembly, Mr Rao said that theTelangana took a brave decision to waive off Rs 17k crore loans despite all odds and claimed that this was a record which was not achieved by any state in the country so far.
He alleged that the AP government was cheating farmers on crop loan waiver and said that it has not waived off even a single rupee so far.
“We met the RBI Governor and other senior officials several times over the last five months. I made a personal request to the RBI Governor to reschedule the loans of farmers and promised him that the Telangana government will clear all their loan arrears. Though banks were willing to reschedule the loans and offer fresh loans for farmers, the RBI prevented them from doing so. It became a stumbling block,” Mr Rao remarked.