AP government replies to RBI’s letter

Andhra Pradesh government has sent in a reply to RBI’s letter of proposals for Loan Rescheduling. The government has requested RBI to consider extending the three years time to seven years which will include one year moratorium and 6 years of reschedule. Government in its letter also requested RBI to consider gold loans as crop loans and include them in the loans rescheduling. In the letter they have also mentioned about 2% interest concession allowed by the central government and requested RBI to facilitate it.

Andhra Pradesh government has also written a letter to State Level Bankers Committee (SLBC) to give the details of the beneficiaries of the loan reschedule. RBI will only decide up on the reschedule after receiving the information from SLBC. The Kotayya committee formed to look in to the loan waiver scheme will submit its reports in two days after RBI finalizes the guidelines for rescheduling. Chandra Babu Naidu is expected to decide the amounts to be reimbursed basing on that. TDP sources say the entire process will be complete by the end of this month.