Ryots protest banks’ move to auction gold

January 25, 2015 12:00 am | Updated 05:45 am IST - KADAPA:

Farmers on Saturday staged a dharna on the national highway in front of the State Bank of India branch at G.K. Rachapalle in Tsundupalle mandal protesting notices on auctioning of gold ornaments.

SBI officials had put up a notice at the bank branch stating that they would auction gold ornaments, if the outstanding gold loan amounts duisbursed to the ryots were not repaid by January 27.

Taking a strong exception to it, farmers demanded that the auction be put off until the loan waiver issue was resolved.

Vehicles were stranded on the national highway for more than two hours owing to the protest.

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