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Telangana latest news : Minister Thummala has issued important instructions to bankers regarding farmer loan waiver. He spoke at a special meeting of state level bankers at Hyderabad Praja Bhavan.
Chief Minister Revanth Reddy and Deputy CM Bhatti said that they are going to start this scheme with an initiation. He said that you are all seeing today that for the first time in the history of the country, a government has waived off the entire loan amount of Rs.2 lakhs. As far as I know, this is unprecedented in the history of your banking. He said that even many bankers could not believe when they announced this scheme and said that they would waive it all at once. There is no reason for that. You have seen firsthand the waiver made by the previous government in two installments. So he did not believe it. Many bankers have also expressed the opinion that the loan waiver has not benefited the farmers due to the way it was implemented in the last two terms.
He said that all of you are also part of the massive program like Rs.2 lakh loan waiver announced and implemented by this state government. He said that his government is committed to complete this loan waiver scheme by August. According to his words, in the first phase, all crop loans up to one lakh per family are being waived simultaneously. On this occasion, the bankers said the same appeal to all on behalf of their government. If the farmer renews the loan, he is advised to pay the amount credited to the accounts in cash. If the farmer has arrears of crop loan, the amount released by the government should be deposited under the loan and a new loan should be granted immediately.
He said that the amount released to DCCBs regarding PACs should be credited to the respective farmers’ accounts within a day or two. It has been suggested to make arrangements in the banks to cope with the rush for the next month. Separate counters should be set up for loan renewal and cash payments. We are seeking your full cooperation in the implementation of loan waiver 2024 scheme. It is requested to give complete information to the officials who come to your bank branches. Requested to provide support to the farmers. Thummala warned that if any bank ignores the government’s orders and acts recklessly and causes trouble to the farmers, this government will not ignore it under any circumstances.
