Crop loan waiver ball in KCR's court now
HYDERABAD: Chief Minister K Chandrasekhar Rao has to find a way out on the contentious crop loan waiver issue. Chief Secretary Rajiv Sharma and secretaries of Finance department who met the Reserve Bank of India (RBI) governor appraised the Chief Minister on the thinking of RBI.
The RBI's reluctance to waive all the crop loans was informed to the Chief Minister on Saturday.'The Chief Minister has to take a decision on this,' an official said.
The RBI wants the Telangana government not to involve bankers in the crop loan waiver scheme and instead expects the government to bear the expenditure to waive the crop loans. There is a provision that crop loans in case of drought could be rescheduled.
News Posted: 7 July, 2014
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