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With banks and financial institutions shying away from lending to tenant farmers, Andhra Pradesh Government has begun a drive to identify eligible farmers and share the list with banks in the vicinity. To begin, it is going to give a four-page loan eligibility cards to about 5.55 lakh ‘Licensed Cultivators’ in the next few days. The banks would not seek any security or guarantee for loans up to Rs 50,000.
With five high security features (such as watermarks which can be seen only under ultra violet light), these cards would be valid for one year and would assign no right on land to tenant farmers. “After one year, they will have to renew it or get a new one,” Mr N Raghuveera Reddy, Minister for Revenue, said.
Addressing a press conference here on Saturday, he asserted that land owners would have no reason to worry. “The Ordinance has made it clear that it is an arrangement to facilitate banks to give loans to tenant farmers. Interests of land owners will be protected,” he said.
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