Punjab Co-op Bank: Hurt farmers; unrepentant MD

Farmers in Punjab have seen red because cooperative banks have put up pictures of defaulters among them on their notice boards, Times of India reports.

Farmers’ union has threatened a protest action if the banks did not stop this practice. Farmer leaders have warned that this inflicts humiliation on defaulting farmers forcing them to commit suicide. They have called upon the govt. and the banks to treat farmers with sympathy and respect.

The representatives of farmers have also demanded that police should refrain from accompanying banks official while visiting farmers for loan recovery.

When contacted, Punjab Cooperative Bank Managing Director G S Mangat said farmers are not being harassed and action would be taken only against farmers who have taken big loans and refused to repay their loans.

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