The Telugu Desam Party Telangana State unit has demanded that the Government release funds relating to the fourth instalment of crop waiver to banks with immediate effect enabling farmers to get fresh loans. The TDP criticised the Government for not convening the meeting of the State-Level Bankers Committee to finalise the quantum of credit that will be disbursed to farmers during the current crop season. Thanks to the Government’s inaction, farmers were forced to depend on private moneylenders who were charging exorbitant rates of interest, it said.
Leaders and activists of the TDP led by the party’s Polit bureau Member R. Chandrasekhar Reddy staged protest in front of the State Bank of India here on Thursday demanding that the Government take immediate steps to complete payment relating to loan waiver including the interest component. The leaders staged a noisy protest raising slogans and the police had to forcefully shift the leaders away from the venue to ensure smooth flow of traffic.
Mr. Chandrasekhar Reddy said as the Government failed to deposit the promised loan waiver amount, bankers were insisting on production of fresh documents from farmers to release loans. The hollowness in the Government’s claims on implementing loan waiver stood exposed as the farmers were yet to get passbooks and other valuables they mortgaged with the banks.
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“In addition to the promised loan waiver amount, the Government should also bear the interest component which had increased significantly over the past three years. Steps should be taken to ensure that banks did not insist on clearing the previous dues while sanctioning loans afresh to farmers,” he said.