Give fresh loans to debt-free farmers, Bhatti urges bankers

Hyderabad: Deputy Chief Minister Mallu Bhatti Vikramarka has asked the bankers to provide fresh farm loans to the farmers who were freed from the loan debts under the loan waiver scheme. The Finance minister warned of strict action if the bankers created trouble in clearing the pending loans of the farmers as per the guidelines issued recently by the government. Bankers owed explanation to the government in case the farmers lodged a complaint on their farm loan waiver, he said.

Stating that second phase farm loan waiver of up to 1.50 lakh would be completed by this month end, Bhatti said that Rs 31,000 crore would be released before end of August towards loan waiver for farmers.

Speaking at the SLBC special meeting, the deputy CM said directed the bankers that after crediting the funds sanctioned under the Farmers’ loan waiver, they should immediately sanction loans to farmers for their future requirements. He said no apathy should be displayed in sanction of loans to farmers and the Lead Bank should play the role of big brother, he suggested. The Deputy CM wanted the bankers to organise celebrations at the bank premises in the wake of waiver of farmers’ loans and provide extensive publicity to the programme.

For those farmers with over Rs 2 lakh loan, bankers should talk to them and recover the excess of amount over Rs 2 lakh and utilise the Rs 2 lakh to be released by the government to ensure no farmer owed loan to the bank, Bhatti said.

Describing loan waiver for farmers as a historic decision in the country itself, Bhatti said that no State government waived farmers loans to the tune of Rs 31,000 crore loans. He recalled that before coming to power, Revanth Reddy as the PCC president and himself as the Congress Legislature Party leader went into election campaign after signing on the loan waiver guarantee. “We are now bound by our word and are implementing loan waiver scheme for farmers in letter and spirit”, he said.

The State government would deposit Rs 31,000 crore in 40 lakh bank accounts under the loan waiver, he disclosed.