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CM urges PM to ensure more currency to DCCBs

naveen patnaik

Bhubaneswar : Chief Minister Naveen Patnaik on Wednesday urged Prime Minister Narendra Modi to look into all kinds of problems farming community in state are facing post demonetization.

CM said that upon demonetization of high value notes and restriction on district central cooperative banks to accept the SBN as deposits the DCCBs are facing sever currency shortage as it is not able to dispense or meet demands of farmers in Primary Agricultural Cooperative Societies level.

Since PACS are treated at par with individuals in respect to withdrawal of about Rs 24,000 per week, they are not able to meet the needs of the farmers in several parameters like demands for crop loans, procurement proceeds and insurance claims pertaining to Kharif-2015.

Looking at the drawbacks Patnaik urged the PM to see that adequate currency is made available to DCCBS through currency chest of commercial branches which should be monitored by the RBI local branch. The imposed restriction on PACS to withdraw only Rs 24,000 should be lifted. Allowing transference of funds from government account to farmers’ without time consuming g KYC verification.

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