Banks seek second Debt Recovery Tribunal in Andhra Pradesh

G Naga Sridhar Updated - November 25, 2017 at 07:10 PM.

Banks in Andhra Pradesh asked the Government to set up a second Debt Recovery Tribunal (DRT) in the State.

This request was made by SK Kalra, Executive Director, Andhra Bank, at the State Level Bankers' Committee which met here on Tuesday.

The setting up of a second DRT in the State would reduce the high-pendency of cases and recovery process in high volume loans could be hastened, the official said.

On kharif loans to farmers, Kalra said farmers were not wiling to repay the loans and their renewal due to pending loan waiver scheme of the Government.

In response to an earlier directive from the Government asking banks to submit data on farm loans, he said banks would submit data by October 10.

Kalra also requested Government "not to encourage" farmers to look for loan-waivers and enhance agricultural productivity instead.

Y Ramakrishnudu, Finance Minister, Govt of AP, said banks should submit the required data on farmers' and women's loans on a priority basis.

"We have a Cabinet meet tomorrow and will finalise other modalities for the loan waiver," he added.

Published on September 30, 2014 08:28