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Andhra Pradesh Chief Minister N Chandrababu Naidu on Wednesday spoke to RBI Governor Raghuram Rajan on the loan waiver issue.
Naidu has explained to the RBI chief the State Government’s compulsion to go ahead with the implementation of the debt waiver for farmers and self-help groups, according to a senior official.
The RBI is not in favour of a loan-waiver as it could hit financial discipline in particular and banks in general.
The Chief Minister would also be meeting representatives of the State-Level Bankers Committee (SLBC) this afternoon to discuss the modalities of the debt-waiver.
The total outstanding loan portfolio of farmers and self-help groups in the S'tate is over Rs 1.07 lakh crore.
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