Rs 49,000 crore loans rescheduled, Andhra saves Rs 1,108 crore: CM Naidu

Amaravati, Andhra Pradesh Chief Minister N Chandrababu Naidu on Friday announced that loans worth nearly Rs 50,000 crore have been rescheduled out of a total Rs 2 lakh crore of identified debt, resulting in savings of Rs 1,108 crore for the state.

Addressing the 233rd and 234th State Level Bankers Committee (SLBC) meeting at the Secretariat, Naidu said the government had identified Rs 2 lakh crore worth of loans that could be rescheduled.

Loans worth Rs 49,000 crore have been rescheduled so far after identifying the Rs 2 lakh crore that could be rescheduled, he said in a statement.


The CM urged bankers to support the growth of micro, small, and medium enterprises (MSMEs) and other key sectors, noting their vital role in uplifting weaker sections involved in trade.

He emphasised that large-scale loans should be extended to SC, ST, and BC communities to support the growth of underprivileged sections across various sectors.

Observing that the government is fulfilling its responsibility towards the poor, Naidu called on banks to contribute actively.

Criticising the previous YSR Congress government, he alleged that it had borrowed at inflated interest rates and stressed that better creditworthiness would ensure access to loans at lower rates.

Supporting startups incubated at the Ratan Tata Innovation Hub (RTIH), representatives from the Union Bank of India said they would back ventures originating from the Amaravati hub, with other banks supporting startups in additional locations.

Naidu further emphasised that residents should avoid taking loans from private lenders and instead approach banks for agricultural or other financial needs.

Highlighting the importance of the renewable energy sector, he urged banks to extend generous credit, particularly at a time when both the Centre and state governments are prioritising clean energy.

The CM also outlined plans to make Amaravati, the greenfield capital city, a hub for financial institutions.

He noted that the foundations for 15 bank offices had already been laid and called for the expedited completion of these projects.