Andhra Pradesh - Visakhapatnam   

Farmers deprived of waiver benefit

VISAKHAPATNAM: Commercial and co-operative banks following different cut-off dates in the implementation of loan waiver has deprived the benefit to farmers who borrowed from co-operative banks.

Leader of the Opposition in the Legislative Council Dadi Veerabhadra Rao said at the special District Review Committee meeting on drought here on Friday Andhra Pradesh lost Rs.4,000 crores and farmers in Visakahpatnam district Rs.110 crores owing to the difference in the cut-off dates.

He said the AP State Co-operative Bank (APCOB) had taken claims up to December 2006 whereas commercial banks adopted March 2007 as cut-off date.

Minister for Major Industries and district in charge Kanna Lakshminarayana giving details said Chief Minister Y.S. Rajasekhar Reddy constituted a committee headed by Finance Minister K. Rosayya to go into the issue.

The cut-off dates followed by co-operative banks was in accordance with the norms of the apex rural bank NABARD. A letter had been written to it but to no avail. He said the cut-off date was not set by APCOB and its MD had been called thrice on the issue.

When Mr. Veerabhadra Rao insisted that APCOB set it, the minister asked him to pass the information to him.

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