The Telangana government will release Rs 31,000 crore by the end of next month to waive crop loans of up to Rs 2 lakh, Deputy Chief Minister Mallu Bhatti Vikarmarka said on Thursday.
Addressing a meeting of bankers on the crop loan waiver scheme, he asked them to ensure that the funds released by the government are used only for crop loan waivers. He told the bankers not to trouble farmers by depositing the amount against other loans.
The Deputy Chief Minister revealed that by 4 p.m. on Thursday (July 18), Rs.6,000 crore will be released towards the waiver of crop loans of 11 lakh farmers to the tune of Rs.1 lakh each.