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Andhra Pradesh
Prompt loan repayment invites cash incentive
Staff Reporter
SANGAREDDY: The State government will pay Rs. 5,000 to each of the farmers as a sort of incentive for repaying their loan arrears on time. The process beginning from Wednesday will be continue till the end of the month.
In Medak district, the programme would be formally launched in six Assembly constituency limits at Zaheerabad, Ramayampet, Dubbaka, Gajwel, Narasapur and Jinnaram mandals.
Collector Peeyush Kumar said at press conference that more than one crore farmers in the district would be benefited from the offer. A credit advice would be issued to the farmers and the amount will be deposited in their account, so that they can withdraw it as and when the need arises.
The bankers were directed not to adjust the credit advice amount towards any loan without the consent of the farmers. While commercial banks would be distributing about Rs. 51 crore, cooperative banks would distribute Rs. 30 crore. “Almost all farmers in the district will be covered with this,” he said.
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