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Suicides force banks to reschedule cotton growers's loans

The increasing number of suicides by farmers -- 52 so far -- has forced nationalised banks in Andhra Pradesh to reschedule the repayment of crop loans by the affected cotton and tobacco growers.

Disclosing this, Agriculture Minister K Vidhyadhar Rao said the banks's decision followed a meeting between the bankers and Chief Minister N Chandrababu Naidu.

Rao said the crops loans will be rescheduled for three to five years. This may be extended up to seven to 10 years after obtaining a clearance from the Centre.

He said the bankers had agreed to provide fresh loans to the affected farmers immediately.

UNI

EARLIER REPORT:
Pestilence drives Andhra farmers to suicide
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