Telangana: Trial run of loan waiver successful

Hyderabad: The trial run of transactions under the loan waiver scheme into bank accounts of farmers upto Rs 50,000, was conducted successfully here on Monday. About Rs 3.27 crore were successfully deposited into the bank accounts of 1,309 farmers with loans between Rs 25,000 and Rs 25,100 towards loan waiver. In a statement, Agriculture Minister […]

Hyderabad: The trial run of transactions under the loan waiver scheme into bank accounts of farmers upto Rs 50,000, was conducted successfully here on Monday. About Rs 3.27 crore were successfully deposited into the bank accounts of 1,309 farmers with loans between Rs 25,000 and Rs 25,100 towards loan waiver.

In a statement, Agriculture Minister S Niranjan Reddy said the loan waiver amount will be deposited directly into the bank accounts of farmers in full-fledged manner till August 30, on the lines of Rythu Bandhu amount. He asked the bankers not to adjust the amount credited in the bank accounts of farmers under loan waiver scheme, for other purposes. He advised them to issue fresh loans to farmers.

The State government had waived off loans upto Rs 25,000 under the first phase of the scheme, benefiting about three lakh farmers last year. The second phase of loan waiver will benefit about six lakh farmers. The government will waive loans upto Rs 1 lakh availed in a phased manner.

Also read:

Crop loan waiver of up to Rs 50k from Monday: CM KCR

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