Telangana asks banks to reschedule crop loans in 365 drought-hit mandals, speed up Rs 38,268 crore Yasangi lending

Telangana Deputy Chief Minister Mallu Bhatti Vikramarka on Tuesday, 10 November, asked banks to restructure and reschedule crop loans in the State’s drought-hit areas without delay. He was chairing the State-Level Bankers’ Committee (SLBC) meeting at Praja Bhavan in Hyderabad.

About 365 mandals in 31 districts have been declared drought-affected. The Deputy Chief Minister told bankers to identify eligible farmers themselves and extend relief under Reserve Bank of India guidelines, so that farmers are not made to run from office to office. Small and marginal farmers, tenant farmers and families that live on allied activities are to get priority.

He also asked banks to speed up fresh lending of Rs 38,268 crore for the ongoing Yasangi (rabi) season.

Agriculture Minister Tummala Nageswara Rao told the meeting that banks had met only 53% of the year’s Rs 96,943 crore farm credit target up to September, and that monsoon-season crop loans stood at just 17% of the target. He wanted the Yasangi loan target disbursed immediately.

The Ministers asked banks to finance alternative crops such as pulses, oilseeds and horticulture, drip and sprinkler irrigation, oil palm, and allied activities including dairy, poultry and beekeeping. Banks were asked to examine additional loans of up to Rs 2 lakh for each women’s self-help group, and to work with district collectors and agriculture officials so that the relief reaches farmers on the ground.