KCR to announce loan waiver scheme on August 15

A meeting of State government with 42 bankers was informed on Friday that Chief Minister K. Chandrasekhar Rao would formally announce crop loan waiver in the range of ₹ 25,000 to ₹50,000 on August 15.

A meeting of State government with 42 bankers was informed on Friday that Chief Minister K. Chandrasekhar Rao would formally announce crop loan waiver in the range of ₹ 25,000 to ₹50,000 on August 15. In the first phase, the government had waived all loans borrowed by farmers up to ₹ 25,000. A Cabinet meeting recently decided to waive loans above ₹ 25,000 and below ₹ 50,000 this year. Friday’s meeting chaired by Finance Minister T. Harish Rao was a sequel to this decision. Addressing the meeting, Mr. Harish Rao asked the bankers to ensure that the loan accounts of farmers showed zero balance after the government released the money from August 16. The farmers should be eligible for fresh loans after that. The money released by government should not be adjusted against any other debit balances of farmers.