Will borrow money if needed – CBN

Looks like Andhra Pradesh Chief Minister Nara Chandra Babu Naidu is hell bent on carrying out the loan waiver. Today he had a meeting with Andhra Bank MD and asked him not to pressurize farmers to pay loans. It is said that MD responded in positive and promised to withdraw notices sent to farmers if procedure for loan waiver is announced. Chandra Babu reportedly also asked him to pause the auctioning of gold ornaments for those who defaulted on payments.

After the meeting, Chandra Babu declared that his government is keen on carrying out the promise. He assured the farmers that his government will carry out the waiver even if Central government or Reserve Bank does not cooperate. He clarified that government is willing to borrow money if necessary for the loan waiver to farmers and self help woman groups.