Complete 2nd phase of debt redemption by Feb 23: Naidu tells bankers

HYDERABAD: Andhra Pradesh Chief Minister N Chandrababu Naidu today directed bankers to complete the second phase of debt redemption for farmers by February 23.

In a review meeting with bankers on farm loans, the Chief Minister said bankers have to identify the right beneficiaries, who deserve redemption and ensure that the benefit of debt redemption reaches them, a state government release said here tonight.

The debt redemption scheme has been announced to fulfil the farm loan waiver promise of the ruling TDP.

He said bankers should take initiative to pay for loans worth Rs 50,000 or below under phase-I and asked them to expedite the process under second phase.

Under the second phase, he suggested appointment of a nodal officer from the agriculture department who will coordinate with bankers and complete the process of debt redemption to the beneficiaries. The Chief Minister said the government has come across instances where non-farm loans also were waived off by bankers. He said the government's intention was to relieve farmers of the debt burden and ensure the benefit reaches eligible farmers.

He directed bankers to give clarity to farmers about the eligible and non-eligible persons for this debt redemption programme. The Chief Minister stated that despite several challenges, he has gone forward with the massive debt redemption programme.

As the first phase of debt redemption was carried out using a software, the Chief Minister said that a special software should be designed where crop loans could be sorted and data related to agriculture produce in various crop seasons could be uploaded and estimated.

He said that Andhra Pradesh has excelled in implementing Jan Dhan Yojana of the NDA government. Similarly, he suggested, bankers and the government should work together on educating people on improving their savings through a special campaign.

Naidu said the government is now focusing on improving investments and therefore, suggested them to give loans to industries, investors in infrastructure and other sectors.

Suggesting that the bankers have to use the technology optimally, he said this is when they can provide best services to citizens.