Banks also awaiting Babu’s decision
posted on Jul 2, 2014 @ 11:57AM
State Level Bankers Committee (SLBC) President and Chairman and Managing Director of Andhra Bank C V R Rajendran speaking to media said “We are awaiting Chief Minister Chandrababu Naidu’s decision regarding crop loan waiver. There are lakhs of loan accounts that would turn into non-performing assets for us. If the Kotaiah committee formed by the state government fails to come up with a solid proposal before we close our balance sheets for April-June quarter, we will be forced to declare the farmers as defaulters and to make higher provisioning. We hope the state government will take a quick decision on this issue.”
Reserve Bank Governor Rajendran also expressed similar views while speaking to PTI. He said “The current imbroglio was hampering the performance of banks with crop loan disbursements during the ongoing kharif season coming to a halt.”
However, Chandrababu Naidu is leaving no stone left unturned to fulfill his election promise that becomes an acid test for his government ability.