Farmer loan payments to be taken in installments
Vijayawada, October 28, 2006
The Andhra Pradesh State Cooperative Bank Limited has announced that the total amount of interest that accrued as on March 31, 2004 on all short term and long term loans taken by the farmers can now be repaid in equal instalments in 2007, 08 and 2009.
The APCOB Chairman V Nageswara Rao said that the principal interest, penal interest and interest on the outstanding amount will be clubbed and converted into a fresh loan. As a two year moratorium in force, the amount need not be paid in 2005 and 2006 and could be repaid in equal instalments in 2007, 2008 and 2009.
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