The State Government is yet to credit amounts into farm loan accounts of more than ₹35,000 each so far.
The Government, at the meeting of the State Cabinet held on August 1, 2021, had announced its resolve to extend farm loan waiver benefits to those with outstanding up to ₹50,000 as part of fulfilling the promise it made in the election manifesto. The Cabinet had decided to start the process from August 15 and continue it till the month-end benefiting over 6 lakh farmers.
However, amount to the tune of ₹798.99 crore was credited to 2.46 lakh farm loan accounts having outstanding up to ₹35,000. “Remaining outstandings up to ₹50,000 are yet to be credited into the accounts of the farmers,” the State Level Bankers Committee said in the minutes of its 36th quarterly meeting for the quarter ended December last year.
The Government had credited ₹408.38 crore into 2.96 lakh farmers’ loan accounts with outstanding up to ₹ 25,000 in the first phase benefiting over three lakh farmers and implementation of loan waiver up to ₹ 50,000 would have benefited six lakh more. According to the minutes, the total outstanding short-term crop loans was ₹67,684.51 crore in 57.31 lakh accounts of which 5.58 lakh accounts amounting to ₹4,568 crore has been declared as NPA (non-performing asset). In respect of agriculture term loans, the outstanding as of December 31 last year was ₹29,729 crore of which ₹1,205 crore had been categorised as NPA. The outstanding in the form of agriculture infrastructure loans was ₹1,204 crore of which ₹ 65.43 crore had been placed under the NPA category while outstanding in terms of agriculture ancillary activities was ₹10,907 crore of which, ₹1,253 crore had been placed under the NPA category.
The total NPAs under agriculture activities was pegged at 6.48% and the total pending claims of member banks under vaddileni runalu (interest-free loans)/Pavala Vaddi (interest of 3%cent a year) and rythu bandhu cheque printing charges between 2014 and 2018 were placed at ₹725.18 crore.
