Comments
Hailstorm affected farmers in Maharashtra are set to demonstrate outside the Reserve Bank of India office in Navi Mumbai on Tuesday.
Farmers have claimed that the commercial nationalised banks, rural banks, private and corporative banks are not following the RBI Master Circulars to help and support the farmers.
“Using the loopholes in the lending policies of RBI, these banks are actually lending to corporates rather than to the farmers and agriculture. This is forcing the farmers to approach private and illegal moneylenders, who charge usurious interest. This is the main reason for thousands of suicides of farmers being reported every year and for lowering of agricultural growth rate,” a statement by All India Kisan Sabha said.
“To press the urgent demands for loans and advances at low interest rates, the farmers, under the banner of All India Kisan Sabha will hold a demonstration “RBI ko Tala Thoko agitation” RBI Office at Belapur CBD Navi Mumbai on June 10 at 11 am,” it added.
The loss due to the natural calamity that occurred early this year is estimated at over Rs 10,000 crore.
The State Government in its Budget has announced Rs 2,350 crore from its Contingency Fund as relief to farmers. However, with heavier losses and increased obligations towards banks and other lenders, farmers are trying to raise their voice by protesting in front of the central bank’s office.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.