Members of hundreds of cooperative societies in Bhatinda district of Punjab are on the war path because Cooperative Bank Bhatinda has slashed the amount of loans to be disbursed to them by 20 crore rupees, reports Tribune.
Members demanded the transfer of the managing director of Cooperative Bank, Bathinda.
Earlier the district manager of Cooperative Bank had transferred after a long protest against the bank authorities who allegedly had slashed the amount of crop loan to farmers.
The Cooperative Bank provided loan of around Rs 425 crore every year to farmers who were members of total 250 cooperative societies in the district.
Another reason for members; anger is the bank provides them loans at a high interest of rate.