YSR releases Rs 606-crore special credit plan

Chief minister YS Rajasekhara Reddy released a Rs 606.14-crore special credit plan on Monday.

The plan will be implemented in 10 flood-affected districts of Srikakulam, Vizianagaram, Visakhapatnam, East and West Godavari, Nizamabad, Warangal, Khammam, Karimnagar and Adilabad, which were severely damaged during the first week of August 2006.

K Ramakrishnan, chairman and managing director of Andhra Bank and president of the State-level Bankers' Committee, briefed the chief minister on the steps being taken by the banks in implementing relief operations. Consumption loans sanctioned were expected to be distributed before September 15, 2006.

All existing crop loans would be converted into term loans before September 20, 2006, while sanctioning fresh crop loans to farmers to take up alternative crops, he said in a press release.