RBI rejection to Andhra Pradesh,Telangana

As per the recent election promise both state governments are started processing of Loan waiver scheme.

This required nod from RBI to approve and transfer the benefits to people.

Today RBI governor raghuram rajan given clear hints on the rejection of this benefit to people.AS per RBI reports there is no drought situation in AP and Telangana and the food generation is more than 50 percent.

According to rules both states are not eligible to provide any loan waivers to farmers.The news given big blow in both the states and opposition parties started protesting against the state governments.

AP and T- governments announced they will schedule a meeting with RBI officials to clarify the doubts and present situation of farmers, hopefully approvals will be provided soon.