RBI to reschedule loans only in four districts

.................The State government wrote a detailed letter on July 4 justifying the need for crop loan rescheduling and cited various other factors such as consecutive years of natural calamities, rising input costs, lack of remunerative prices that drained the farmers financially and drove thousands of them to commit suicides. In its response, the RBI apparently relented to reschedule crop loans only in four districts- Srikakulam,Vizianagaram, Nellore and Krishna districts. But significantly Nellore district did not figure in the list of affected districts notified by the previous government. The RBI also believed to have made it clear in its communication that it would reschedule only pure crop loans and not gold loans, ie those availed against pledging gold............

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