Date:22/05/2008 URL: http://www.thehindu.com/2008/05/22/stories/2008052258130800.htm

Andhra Pradesh

Minister hails SBI decision

HYDERABAD: Agriculture Minister N. Raghuveera Reddy on Wednesday hailed the decision of the State Bank of India to withdraw its orders stopping loans for purchase of tractors and other farm implements and said it was a victory for the country’s farmers.

He thanked the bank on behalf of ryots for taking a decision to help them.

Concern

A statement issued by the Minister’s office said Mr. Reddy expressed concern over the bank’s move intended to check mounting NPAs.

In the morning, the Minister held consultations with Principal Secretary, Agriculture, and desired that discussions be held with the State Level Bankers’ Committee to ensure that State farmers were not inconvenienced.

He observed that ryots would have faced hardships had the bank gone ahead with its decision, in the context of the State giving a pride of place to agriculture along with micro irrigation.