Farmers in a quandary as rural banks say no to defunct notes

At a time when the government's demonetisation move has left the poor in a spot, banks in rural areas are not accepting banned currency notes, as most of the district and cooperative ones are owned by local politicians. The government fears that they may misuse the currencies.

President of Swabhimani Shekhari Sangathana and MP Raju Shetty said, "Farmers are getting inconvenienced as most of them have accounts in district and local banks. They want the central government to order these banks to accept defunct currencies."

Seeking amenities
Addressing a press conference in Pune, Shetty said, "I had a word with Union finance minister Arun Jaitley. We are expecting a positive response."

"We welcome this decision, but at the same time, the government must provide some amenities to district and cooperative banks, as most of the farmers have their accounts there. I appeal to the government to discontinue the repayment of loans of farmers," he added.

Scrutiny required
Speaking to mid-day Shetty also said, "Prior to the government's demonetisation move, many people invested their black money in land and property. Such cases need to be scrutinised and the penalty amount that would be recovered from black money holders should be given to widows and the family members of farmers who have committed suicide. In addition to this, the accounts of ‘bajar samiti' members should also be checked, as they grab money from the farmers."