The Reserve Bank has already clarified that they won't accept any alternative except remitting cash without any delay. It has also mentioned in its letters to both the Governments (Telangana and A.P) that when UPA Government had waived off the crop loans for the tune of nearly seventy thousand crores of rupees, they received only cash.
Chandrababu Naidu has talked to Reserve Bank's Governer on phone on Wednesday, June 18, 2014 and what had transpired during their discussion has not come out. The Finance Minister of the state Yanamala Ramakrishnadu has said that it was wrong on the part of Reserve Bank for not accepting the waiver of the loans to farmers who are 70 per cent in the population. Another minister Mr. Pattipati Pulla Rao who is holding the agriculture portfolio has questioned the Reserve Bank, why it's not accepting farm loans when it's accepting one time settlements for industrialists.
Among the two states Telangana state appears out of danger as the party in power TRS had promised the waiver up to one lakh rupees and there was no promise of SHG (Dwakra) loans. Their burden is below Twenty thousand crores of rupees and Chandrasekhara Rao had assured the Legislative Assembly that there was no going back of the election promise.
The situation is different in Andhra Pradesh and Government had asked the farmers to wait 45 days to know the modalities which make farmers worry. As the burden is above 85 thousand crore of rupees, everybody says that it would be impossible to keep the promise and CPI central committee leader Narayana was telling that Chandrababu?s election promises are not implementable.
To discuss the matter with Prime Minister Narendra Modi, Chandrababu Naidu is going to meet him on 25th of this month along with other issues. To negotiate this problem, the Union Urban Development Minister Venkaiah Naidu is only hope for Chandrababu Naidu and Reserve Bank's Governer would be pressurized to accept the bonds issued by the Andhra Pradesh Government. Whether this will be materialised or not, it will be known last week of this month only.