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India : ANDHRA PRADESH likely to raise the crop loan rescheduling issue to RBI all over again

August 25, 2014

I.Y.R. Krishna Rao, the Chief Secretary of Andhra Pradesh, will meet the officials of the Reserve Bank of India (RBI) on 25th of this month to hold discussions on the issue of rescheduling of crop loans in 575 mandals.

The State Government s request to the apex lender to reschedule crop loans in these mandals, which were hit last year by natural disasters, will come up during this meeting once again.

Official sources have revealed that the RBI Governor Raghuram Rajan has called a meeting with State Chief Secretaries on 25th August to make discussions on numerous matters relating to banking space. Andhra Pradesh has requested for having an exclusive talk on its appeal to reschedule crop loans.

Responding to the RBI s approval for rescheduling of crop loans only in four districts of Andhra Pradesh, the State Government has already sent a letter to the central bank for extending the facility to include 575 mandals.

The RBI s permission to reschedule crop loans in only two mandals in Nellore districts and excluding East Godavari district, in which natural disaster had hit most of the mandals, has raised the eyebrows of the official sources.

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Source: TendersInfo (India)

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