Andhra Bank General Manager C Duraiswamy on Friday made it clear that no fresh loans would be issued to the farmers who have defaulted in repayment of earlier loans.
Speaking to media persons on the sideslines of a NABARD programme at the Secunderabad Railway Station, Duraiswamy said that the banks were not concerned with the assurances given by the Andhra Pradesh or Telangana governments on waiving off farm loans.
He said that the governments could waive off the loans, but being commercial institutions banks could not do so.
He said that the Reserve Bank of India had issued directions asking the banks to issue fresh loans only to regular account holders and not defaulters.
He also informed that Andhra Bank had set a target of 6 lakh new accounts in Andhra Pradesh and 4.5 lakh in Telangana. (INN)
filed in:Andhra Bank, Farmers, Loans, Loan Waivers, Agriculture