Dattatreya directs banks to provide cash to farmers

Hyderabad: Union Labour Minister Bandaru Dattatreya on Wednesday directed the State Level Bankers Committee (SLBC) to ensure distribution of cash compulsorily to the extent of Rs. 1 Lakh to all the farmers holding Kisan Credit Cards. He also asked the bankers to be in constant touch with RBI officials at Hyderabad on the release of cash to the banks district wise.

Dattatraya took the initiative and conducted a special meeting on Wednesday which was attended by representatives of Reserve Bank of India (RBI), State Level Bankers Committee (SLBC), Farmers Societies and Associations.

In the meeting, several problems being faced by farmers were discussed. They include delay in remittance of Loan Waiver (3rd installment) by State Govt between November 2016 and January 2017 and its burden on the farmers; Status of remmitance of amounts into the bank accounts of farmers in the 4th installment of loan waiver by Banks and availability of cash to farmers in remote and rural areas were discussed threadbear. The representatives of farmers narrated specific cases also on the above issues.

After a long discussion the consensus was arrived at passing a resolution in SLBC regarding compulsory availability of cash to the farmer who holds Kisan Credit Card to the extent of Rs. 1 Lakh. It was also decided to build data immediately on the extent of cash distributed to the farmers district wise, Bank wise as well as Branch wise. Each bank branch has been asked to display a board on the cash distributed to farmers. It was pointed out that there should not be any situation of exhibiting “No Cash” boards at the Bank branches.

It was also decided to conduct District Level Bankers Committee Meetings at District Head Quarters to discuss the ground realities regarding crop loans and cash availability for farmers.

Dattatreya also stated that he has spoken to Union Finance Minister Arun Jaitley several times on the above issues. He said Rs. 9,000 Crores were released to the banks by RBI by June 2017. Rs. 2,600 Crores were released in the first week of July and another Rs. 2,000 Crores would be released to banks in the State of Telangana for farmers by RBI on 13th July. He also noted that Rs. 3,600 Crores are available in the Cash Chests of Banks in Telangana. As such with the total availability of Rs. 5,600 Crores approximately in Telangana, he hoped that the crisis would find a reasonable solution.

The Union Minister advised the State Government to act swiftly in release of first installment of rescheduled Crop Loans of 2013 and 2014 for 10,893 farmers to the extent of Rs. 44.45 Lakhs in erstwhile Medak District and also in Ranga Reddy, Adilabad Districts to the similar extent. He deeply felt that this chronic matter has been discussed in three successive SLBC meetings earlier and was also brought to the notice of Agriculture Minister Pocharam Srinivas Reddy by the farmers on which no action was yet taken in spite of the matter being on records of the District Collectorates, SLBC etc., and statements in media by the authorities.

BJP MLA Chintala Ramchandra Reddy and MLC N. Ramchander Rao, who participated in the meeting, have narrated the ground realities and their experiences on the above issues with bankers and suggested the solutions.

RBI General Manager Subbayya, RBI GM (Distribution) Meghanath, General Manager SBI & Convener SLBC U.N.N.Mayya and senior officials of leading banks, representatives of Insurance Companies and other officials participated in the meeting.