Farmer Loan Waiver: Earlier, the Telangana government had issued guidelines to waive loans up to Rs 2 lakh. The state government will also attend a function with the farmers who benefited from the loan waiver..
Farmer Loan Waiver: Telangana Chief Minister Revanth Reddy has announced the waiver of agricultural loans up to Rs 1 lakh. Telangana CMO said that banks have been instructed that the loan taken by the farmers will be paid by July 18, 2024. The government stressed that strict action will be taken against bankers for depositing the amount released by the government for loan waiver in another account.
Earlier instructions regarding loan waiver up to Rs 2 lakh
Telangana government ministers, MLAs and MLCs will attend a function with farmers benefited from the loan waiver on Tuesday (July 16, 2024). Earlier, the Telangana government had directed to waive crop loans up to Rs 2 lakh.
According to the guidelines issued by the state government, agricultural loans given on or after December 12, 2018 were to be waived off, which was to be repaid by December 9, 2023. Its process will start from Thursday (July 18, 2024) and will be completed by August 15.
Hyderabad: Telangana CM Revanth Reddy announces Farm Loan waiver of up to Rs. 1 lakh to be implemented from July 18. The money would be deposited to the farmers’ loan accounts by the evening of July 18. Clear instructions have been given to bankers that the loan waiver funds…
— ANI (@ANI) July 16, 2024
Instructions issued by Telangana government
The government said that the database of PDS cards of the Civil Supplies Department will be used to identify farmer families. The family will include its head, his life partner, children and others. According to the guidelines, a nodal officer should be appointed in every bank for the implementation of the loan waiver scheme. The nodal officer will coordinate between the Director of the State Agriculture Department and NIC.
