Telugu Desam in Andhra and the TRS in Telangana came to power on the back of their electoral promise to waive farmers' crop loans if they are elected to power. But the Reserve Bank of India has almost red flagged the idea. The RBI said loan waivers affect the habit of loan repayment. The RBI has in fact a written a letter to the AP government in this regard.The RBI said the waiver will weaken banks' financial position. the RBI letter says if the government wants to pay for waiver, it has to be in hard cash and not as long term securities.
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