Andhra Pradesh Chief Minister N. Chandrababu Naidu on Thursday spoke to Reserve Bank of India Governor, Raghuram Rajan and urged the regulator to allow banks to reschedule crop loans as per rules.
At a press conference here, he said RBI Governor has some reservations on the issue. He made it clear that his government was not encouraging default by farmers. The Chief Minister said he had explained to Mr.Rajan that the loan waiver scheme was promised during elections and that the State Government was looking into ways to honour its commitment without violating banking norms. The CM, who released white paper on HRD said AP would be transformed into an education and knowledge hub. He said the government would take the responsibility of ensuring that all children of school-going age were enrolled in schools and achieve 100 per cent literacy.
