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RBI gives approval for re-scheduling of loans in the State

August 8, 2014
Hyderabad

The Reserve Bank of India has permitted banks to begin rescheduling of crop loans in select mandals in three districts of the State.

According to sources, the RBI has given permission for rescheduling of crop loans in select mandals in Adilabad, Ranga Reddy and Medak.

At the State Level Bankers Committee meeting of Telangana State, the first annual credit plan of Telangna was approved for a huge amount of Rs.63,047.62 crore. There was a discussion about the crop loan waiver at the SLBC meeting and several bankers wanted the government to make an official statement that the waiver would be applicable only to crop and gold loans and not other loans.

The Chief Secretary Rajiv Sharma who released the credit plan stated that the State Government was working out modalities on how to waive crop loan by following the existing norms and rules. He said that the State Government would come out a plan in this regard soon.

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