Telangana Chief Minister K Chandrashekar Rao has launched a revolutionary scheme called Rythu Bandhu in 2018 to help farmers to meet agriculture expenses in kharif and Rabi seasons every year.
KCR government is crediting Rs 10,000 per acre per year to all farmers irrespective of land extent they own. A person owning 50 acres is getting Rs 5 lakh Rythu Bandhu per year.
This scheme is copied by Modi government at the Centre and several state governments in various States with different names. But no State government or Centre is giving such a big amount like Telangana Rythu Bandhu. They are imposing several restrictions.
But bankers in Telangana have now turned Rythu Bandhu as Banks Bandhu these days.
They are adjusting Rythu Bandhu amount to clear crop loan arrears of famers directly from their accounts. Banks are not giving Rythu Bandhu to farmers who have loan arrears.
Farmers are crying foul and complained to government on banks.
Finance minister Harish Rao convened emergency meeting with bankers today and warned them against adjusting Rythu Bandhu amount for other purposes.
Good job by banks.