• Source:JND

Naidunia Correspondent, Raisen | The financial system of the cooperative bank in the district has collapsed in Raisen, Madhya Pradesh. Despite crores of rupees deposited in farmers' accounts for wheat purchased at the support price, they are not getting the required cash from the bank.

The situation is such that despite having lakhs of rupees in their accounts, farmers are not able to buy items related to farming. The unavailability of cash in the bank caused widespread resentment among farmers, traders, and other account holders, reviving their demonetisation memories.

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Over Rs 167 Crore Rupees Payments Due

Over 6.36 lakh quintals of wheat were procured from 6,793 farmers at 19 procurement centers in Begamganj tehsil. Over 167 crore rupees were due for payment. After debt recovery, farmers were supposed to receive approximately 161 crore rupees. According to sources, approximately Rs 158 crore has been deposited into farmers' accounts, but due to a cash crunch, farmers are facing difficulties withdrawing their own money.

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Only Rs 10,000 Given By Cooperative Bank

Farmers alleged that there is a severe cash shortage at the branches of the District Cooperative Central Bank Limited and the Madhya Pradesh Regional Rural Bank. While withdrawals from the State Bank of India and the Central Bank of India are available for Rs 50,000 to Rs 1 lakh, the cooperative bank is only providign up to Rs 10,000. Farmers said the situation has become akin to an unannounced demonetization.

Farming Work Affected

Farmers, including Saurabh Sharma, Bharat Patel, Balgiri Goswami, Ganpat Singh Lodhi, Manoj Yadav, Rajendra Yadav, Sunil Yadav, Manohar Kushwaha, and Rajesh Kushwaha, asserted that they urgently need cash to prepare for the Kharif crop. They are facing difficulties purchasing fertilisers, seeds, diesel, and other agricultural inputs for sowing paddy, soybean, and maize.

On the other side, the bank officials said they too are unable to access sufficient cash from higher levels, which is why limited payments are being made. Bank management claimed that as soon as the situation normalises, account holders would get cash as per their demand.

Tejasvi Patel, manager of the State Bank of India, Begamganj, said account holders are continuously withdrawing funds, and not depositing in the same proportion, increasing cash pressure.

Purnima Srivastava, Assistant Supply Officer, Raisen, said the support price has been paid into farmers' accounts, and the wheat transportation process is almost complete.
(With Naidunia Inputs)


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