Telangana

Kisan Congress’ plea to RBI

Kisan Congress, the farmers’ wing of the Congress party, has urged the Reserve Bank of India (RBI) to direct banks not to withdraw funds from the accounts of farmers without their consent. It has also informed the RBI that the State Government has promised loan waiver for farmers and being implemented in four phases.

In a memorandum addressed to K. Nikhil, Regional Director, RBI, on Tuesday, All India Kisan Congress vice-chairman M. Kodanda Reddy, Telangana Kisan Congress vice-chairman S. Anvesh Reddy and advisor D. Narasimha Reddy said that many farmers were issued cheques by private parties after procuring their produce while government agencies directly credited to their accounts.

“Whatever little amounts, small and marginal farmers are getting are being withdrawn by the banks towards loans, without information and prior consent from them. Instruct banks to stop withdrawing funds from the bank accounts of farmers without their consent and prior intimation. Put in place mechanisms and procedures that enable farmers to exercise control over their bank accounts and the transactions therein. Enable faster implementation of crop loan disbursal, through deployment of higher number of staff in all rural branches. RBI should relax rules on loans to farmers, and ask the National Bank for Agriculture and Rural Development to disburse up to at least ₹ 5,000 crore to district cooperative banks for crop loans, immediately. Enable availability of sufficient amounts of cash in all the rural branches, on a priority basis, over and above what is made available normally, for disbursal as crop loans,” they said in the memorandum submitted to the RBI Director.

Speaking to reporters at Gandhi Bhavan, Mr. Kodanda Reddy and former PCC president Ponnala Lakshmaiah said that though Chief Minister K Chandrasekhar Rao has promised loan waiver in 2018 elections many farmers were yet to get their loans waived and recently a farmer attempted suicide unable to withdraw money from his account.


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Printable version | Sep 6, 2022 3:21:09 am | https://www.thehindu.com/news/national/telangana/kisan-congress-plea-to-rbi/article65658583.ece