FARMERS PROTEST OUTSIDE BATHINDA COOPERATIVE BANK BRANCHES
Farmers along with employees of agriculture cooperative societies staged a protest outside all the 37 branches of Bathinda Central Cooperative Bank against the cut in shortterm crop loan (STCL).
Protesting farmers didn’t allow employees to come out of the bank premises at Maluka and Dhade villages, forcing the latter to seek intervention of their higher ups.
As per the state government’s directions, STCL at ₹14,000 per acre is to be provided to farmers for paddy and cotton crop, but Bathinda Central Cooperative Bank has been lending loan of ₹10,000 for cotton and paddy sowing.
With the protests mounting against the decision to reduce STCL, bank’s district manager Geetika Mani alleged that some ‘bad elements’ were provoking the farmers to claim the loan at ₹14,000 per acre, while many of them had earlier availed STCL at the decided rate.
She said the decision to provide loan at reduced rates was taken in a meeting of bank officials on May 17.
“National Bank for Agriculture and Rural Development (Nabard) has reduced the advance loan being given to bank for STCL. In 2014-15, it was ₹338.14 crore, in 2015-16, it was ₹282.51 crore, while in 2016-17 and 2017-18, it further reduced to ₹234.38 crore. The bank is expected to release the amount of ₹176 crore for STCL this year,” she added.
She said the decision to reduce the amount has been taken keeping in view the financial position of bank and reduction in advance loan by Nabard for this purpose.
“The loan to farmers is provided at 7% interest rate and a rebate of 3% is provided if the farmer pays the loan back in time,” Mani said, adding that loan to around 84,000 member farmers has been disbursed through 193 agriculture cooperative societies.
Bharatiya Kisan Union (BKU) (Ekta – Ugrahan) district president Shingara Singh Mann said talks between the protesters and bank management on Monday remained inconclusive so they have decided to continue with their protests on Tuesday too. He said the farmers feared that bank might also reduce the loan of ₹9,000 per acre provided in form of fertilisers and diesel.