Uncertainty over rescheduling of farm loans
HYDERABAD: At a time when mixed signals are emerging from the Reserve Bank of India (RBI) on the possibility of rescheduling of crop loans, Andhra Pradesh Agriculture and Marketing Minister P Pulla Rao said they were expecting a positive response from the apex bank on Tuesday on the issue of rescheduling of crop loans.
Speaking to reporters in Guntur, the Agriculture Minister said that RBI governor Raghuram Rajan was expected to come back to the country from foreign trip on Tuesday. Soon after his return, the RBI governor might take a decision on the rescheduling of crop loans, he added.
Hence, the AP government was expecting a letter from the RBI giving its nod to its proposal of rescheduling of crop loans on Tuesday, Pulla Rao said.
However, conflicting signals are emerging on whether the RBI would really accept the plea of AP government for rescheduling of farm loans.
Though the TDP leaders are claiming that they are confident that the RBI would give its nod for the rescheduling of crop loans, sources in the RBI said they had not given any assurance to the AP government in this regard.
Concerned officials in the RBI only asked the AP government to approach the apex bank with proper details with regard to the crop loan waiver, sources added. 'We have not given any assurance either to the AP government or Telangana government with regard to rescheduling of crop loans.
News Posted: 15 July, 2014
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