Telangana: Govt blames technical error for loan waiver glitch

The RBI informed that due to technical problems, around Rs 84.94 crore was not credited into 17,877 bank accounts which would be now returned to the State government after rectifying the issue, said Minister Tummala Nageswara Rao.

Hyderabad: Amid uproar over several farmers not receiving the crop loan waiver, the State government on Monday blamed technical problems for non-disbursement of the amount into around 17,877 bank accounts belonging to beneficiary farmers. Upon rectifying the problem, the Reserve Bank of India (RBI) assured to return the funds to the government which would be deposited into the respective bank accounts of the farmers.

Stating that the government was ready to release second tranche of crop loan waiver funds at the earliest, Agriculture Minister Tummala Nageswara Rao on Monday stated that under the first tranche, the State government released Rs 6098.94 crore into bank accounts of 11.5 lakh farmer families for crop loans less than Rs 1 lakh. However, the RBI informed that due to technical problems, around Rs 84.94 crore was not credited into 17,877 bank accounts which would be now returned to the State government after rectifying the issue.

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“The amount will be credited into the beneficiary accounts at the earliest,” he said, adding that the inspection of remaining loan accounts (15,781) related to the Primary Agricultural Co-operative Societies (PACS) linked to commercial banks will be completed and funds will be released to those accounts at the earliest.