July 9, 2014 9:06 AM

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RBI to reschedule farm loans in AP

In a significant move, the Reserve Bank of India (RBI) has agreed to reschedule farm loans in Andhra Pradesh. State Finance Minister Y Ramakrishnudu said this to reporters in Hyderabad on Tuesday. He said that when Chief Minister N Chandrababu Naidu spoke to the RBI Governor, he was informed that loans will be rescheduled. The RBI will write a letter on the details and once the letter is received, the Andhra Pradesh Government will take steps in this regard.Replying to a query, he said that details about how many would benefit, how much money is involved and the number of years by which it would be rescheduled, would be known later.

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