Banks should not adjust Rythu Bandhu amount against loan

Finance minister T Harish Rao has said the banks should not adjust the Rythu Bandhu amount of farmers against old debts or loans. He asked the bankers committee to study and submit a report on such incidents.

The State Level Bankers Committee should ensure that all the banks follow the government’s directive in this case. The minister said some such incidents are being reported in some parts and warned all the bankers to give up the practice.

The Rythu Bandhu is solely meant for farmers to prevent them from depending on private money lenders and happily start their farming operations by buying seeds and other things.

By Gollapudi Srinivasa Rao

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