Etela asks Bankers to support loan waive scheme

Dec 23, 2015

Telangana Finance minister Etela Rajender has urged the bankers to support the government’s plans of implementing Loan waiver scheme and asked them to follow the schemes at least from next year.

Etela speaking at State Credit Seminar 2016-17 said, “Government is not only helping the farmers but also bankers indirectly with the scheme. Imagine how many defaulters the banks would have had and how much loss bankers might have incurred, if the government has not come forward to offer to clear farmers losses. While we put into action such schemes, we expect bankers to back us. But we aren’t getting enough support from bankers for several reasons. We expect bankers to implement the scheme strictly from at least coming year.”

The finance minister further added that banks should not see aid to farmers from a business angle. “Government and Banks should be providing some support to farmers to make their lives better.”
Special chief secretary (finance) K.Pradeep Chandra stated that bankers need to put aside few funds to people from scheduled and backward classes.