Hyderabad: The State government is committed to fulfilling the promise of waiving farm loans completely. Agriculture Minister Tummala Nageswara Rao announced that the government is preparing for the second phase of the loan waiver scheme.
In a media statement, the Minister shared details about the first phase. He said that the scheme had targeted 11.5 lakh families, and Rs 6,098.94 crore was allocated for this purpose.
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However, due to technical issues identified by the RBI, 17,877 accounts did not receive Rs 84.94 crore. Despite this, 11.32 lakh families benefitted and received a total of Rs 6,014 crore.
The Minister assured those who did not get the funds that the issue with the pending accounts will be resolved with the help of the RBI.
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