On Friday, the Chief Minister of Andhra Pradesh had to face a shock from the bankers. The bankers have come out with the proposal to clear only the 20% of the existing loan of the farmers. In a situation when a farmer has to get a loan of Rs. 1 Lakh will now only be given Rs. 20,000 as a new loan.
The deadline announced by the AP government had been of no use for the bankers. The Naidu Government had asked the bankers to waive off loans before 22nd October but the bankers have raised their hands that they cannot complete the whole process in this short period of time. Thus raising the head-ache of Naidu who is already facing a lot of criticism on the farm loan waiver issue.