Cashew processors and labourers will take out a march here on October 3 to mark their protest against the hostile attitude of banks in implementing the One-Time Settlement (OTS) scheme and restructuring their loans.
Members of the Cashew Protection Council alleged that the OTS scheme was sabotaged by many banks in collaboration with the State Level Bankers’ Committee (SLBC) and the banks were colluding with land mafias and auctioning their properties at very low prices.
“The cashew industry, which is the largest traditional industry in Kerala, has been on the decline for the last eight years due to various reasons. So far six processors have committed suicide and the crisis has rendered hundreds of labourers jobless. In 2019, the State government had decided to implement a revival package for the cashew industry in collaboration with the banks. But a large number of factories remain closed as most of the banks were not willing to cooperate. Because of this the workers were even denied ESI and PF benefits,” said the council members at a press meet here on Tuesday.
In 2021, a three-member committee that included a government representative and the SLBC convener was formed to solve the issue. “Though the committee met several times, a final decision could not be taken due to SLBC’s double standards and objections by other banks. All this is against the government order and the SLBC is supporting this. The CPC is launching the first phase of protest against this on October 3,” they said.
M Naushad, MLA, will inaugurate the protest meeting in front of UCO Bank and Union Bank on Beach Road. The march will also cover Kollam SBI, Kollam RO and former Minister J Mercykutty Amma will speak at the protest.
“The second phase of the protest will be held in front of other banks in the next few days and if there is no solution to this, we will start the third phase with relay hunger strike in front of these banks,” said the CPC leaders.
Published - October 01, 2024 07:32 pm IST
