Farmers write to PM on co-op banks

Farmer groups across the country have sent a letter to Prime Minister Narendra Modi urging him to ease financial problems farmers are facing in the aftermath of demonetization, says Hindu.

The farmer groups, that are joint signatories of the letter, include the All-India Coordination Committee of Farmers Movement, Bhartiya Kisan Union, Laghu Simant Krishak Morach, Shetkari Sanghathana and Tamil Nadu Farmers’ Association, among others.

The most significant negative fall-out of the entire demonetization process is the destruction that is taking place of the rural cooperative banking sector, the letter pointed out.

“Cooperative banks should be immediately brought on a par with other banks and all restrictions on deposits and withdrawals from the cooperative banks should be withdrawn,” it added.

With increased NABARD funding, soft loans should be extended to Joint Liability Groups and Self Help Groups, the letter said.

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