It is not just the big weddings which are affected by demonetisation and related cash crunch at banks, welfare schemes meant to support the betrothed girl children of socio-economically backward sections too have taken a hit.
The support measures, Shaadi Mubarak and Kalyana Lakshmi schemes, which offer Rs. 51,000 to each girl child of Dalit, Tribal, Other Backward Classes (OBCs) and Muslim families respectively whose parental income is less than Rs 1.5 lakh per annum have not been serving the purpose as rural branches of banks have gone dry and ATMs were rendered cashless over the past two weeks.
With backward families relying on the amount to pay off debts or make last minute purchases, the lack of cash flow has affected preparations so much so that local money lenders have jumped in to make a killing.
Complaints
Three Muslim families have made complaints against money lenders of Mahabubnagar district for running a racket of lending money against the surety of the amount promised by the scheme.
As per the complaint, the money lenders were exacting 20 percent interest on the principal amount, making marriage an unaffordable eventuality for several families, the complaint signed by three would-be brides read.
Also, making hay out of the misfortune are gold dealers who lent ornaments against half the price provided the surety of the promised amount over which a 25 percent interest will be exacted.
Private bank blamed
Another complaint with the State Minorities Commission pointed at officials at a private bank who refused to release the amount even as the Union Government had agreed a withdrawal of Rs. 2.5 lakh in cash when it comes to marriages.
According to Welfare Department officials, most withdrawals of the scheme funds take place soon before the wedding.
“The last minute rush is usual for weddings and this hampered withdrawals in the case also. Moreover, since most of the beneficiaries are located in rural areas with bank branches that do not have much cash reserve, the situation aggravated,” an official who deals with the release of Shadi Mubarak funds said.
As many beneficiaries are located in rural areas with bank branches that do not have much cash reserve, the situation got aggravated.
Official
