The state government is to impose a moratorium on loans given by private money lenders in 669 cyclone-affected mandals across the state. The Chief Minister, Mr N. Kiran Kumar Reddy, has taken the decision as many farmers are said to be committing suicide after being in debt and unable to pay back the loans.

The late CM, Dr Y.S. Rajasekhar Reddy had also imposed a moratorium on such loans for six months. The revenue minister, Mr N. Raghuveera Reddy, said that the details of the moratorium will be announced soon. Mr Reddy also disclosed that the state government will issue new tamper-proof pattedar passbooks with high-security features by the next kharif season or earlier.

Published Date : Saturday, 1/1/2011 3:50 PM IST

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