4000 Crores under loan rescheduling in TS!

It is known that the Reserve Bank of India had agreed for loans rescheduling in 100 Mandals of the Telangana state. It is estimated that this rescheduling will amount to 4000 Crores. So, this 4000 Crores will come as a relief to Telangana government in its loan waiver scheme. Government will be paying the rescheduled amount to banks up to One Lakh per family and farmers will have to pay up the rest of the amount.

Central government usually bear some interest amount for farmers loans paid in time. Since these loans are not paid in time, 12% interest will be levied and they will be borne by the government. It is estimated that 440 Crores more will be burdened through interests to the government. With this amount, the loan waiver scheme of Telangana government will go up to 17,680 Crores. Telangana government is verifying all the loans to avoid bogus claims, the amount may come down after the verification.