The Reserve Bank of India (RBI) has sought more details on crop loans availed by farmers in Telangana during 2013-14 as part of processing the latter’s request for rescheduling the loans. The government is likely to send its reply in a day or two.
Sources stated that the RBI wanted more details on the adverse seasonal conditions during the kharif and rabi season in 2013-14 such as crop loss due to untimely rains and hailstorms. It is said that the clarification sought by RBI pertained to the crop loans to the extent of Rs. 17,337 crore, out of which about Rs. 5,000 crore was repaid by the farmers to avail fresh loans.
In its earlier communication to the State Government, the RBI had indicated the possibility of rescheduling only the crop and agriculture term loans. The State Government had made a formal request for rescheduling in 337 mandals and the details pertaining to another 78 mandals were sent later.
Meanwhile, Minister for Irrigation T. Harish Rao on Tuesday reiterated that the State Government would implement farm loan waiver in spite of the RBI hurdles. He stated that the TRS Government would write off loans up to Rs. 1 lakh of all farmers including those who had availed crop loans but not repaid, those who had not repaid, gold loans and term loans.
In all, 39,07,409 farmers had availed a credit of over Rs. 19,200 crore for their agricultural needs last year in the form of crop/term/gold loans.
Of the total credit, Rs. 17,337 crore was crop loan and Rs. 1,800 crore was gold loan.
