Finance minister Arun Jaitley today said no financial assistance for loan waiver has been provided to states by union government during the last three years and the current year. <br/><br/>Replying to questions in the Lok Sabha, Mr Jaitley said RBI has issued directions for relief measures to be provided by respective lending institutions in areas affected by natural calamities. <br/><br/>He said government has also given 70,000 crore rupees fertiliser subsidy to farmers in the current year.

Finance minister Arun Jaitley today said no financial assistance for loan waiver has been provided to states by union government during the last three years and the current year. <br/><br/>Replying to questions in the Lok Sabha, Mr Jaitley said RBI has issued directions for relief measures to be provided by respective lending institutions in areas affected by natural calamities. Mr Jaitley said the benchmark for initiating relief measures by banks has also been reduced to 33 per cent crop loss in line with the National Disaster Management Framework. <br/><br/>The minister informed the House that as per RBI's directions all short term loans, except those overdue at the time of natural calamity are eligible for restructuring. He said government has also given 70,000 crore rupees fertiliser subsidy to farmers in the current year.