Farmer Loan Waiver Proposal Opposed, State Is Free To reimburse loan On Its Own – RBI

Farmer Loan Waiver Proposal Opposed, State Is Free To reimburse loan On Its Own – RBI

The Reserve Bank of India has sent a letter to the AP government opposing the proposal. The RBI said they would have no objection if the state government was willing to reimburse the entire loan dues in cash. The RBI executive director Deepali Pant Joshi in a letter to the AP government said that such schemes would set up a wrong precedent and would discourage the farmers from paying the EMIs in time.

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