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RBI to give 70 cr daily to district co-op banks

rbi to help DCCBs

Bhubaneswar: The RBI has decided to provide Rs 70 crores to district central co-operative banks (DCCBs)everyday following the state government’s repeated requests of the hardships farmers are facing even after paddy procurement. Meanwhile, CM Naveen Patnaik has written to PM Modi on Friday to remove withdrawal limits in bank accounts of rural housing scheme beneficiaries.

development commissioner

RBI would provide the money to the DCCBs for crop loan, paddy procurement earnings and crop insurance claim. The move came after Development Commissioner R Balakrishnan took a stock of the situation post demonetisation in the state on Thursday and advised RBI to provide more currency to the DCCBs, which advance around 65 per cent of the crop loans in the state.

Meanwhile, CM Patnaik has written to the PM to remove the withdrawal limits on accounts of beneficiaries of rural housing scheme. Since the state has already 1.4 lakh houses this year under various rural housing schemes, it aims at completing 5 lakh houses by March, 2017. For timely release of instalments that are being sanctioned in four parts: Rs 20,000; Rs 30-35,000; Rs 40-45,000 and Rs 30,000, it is necessary to remove the withdrawal limit.

“The secodn to fourth instalments are way above stipulated limits of withdrawal causing inconvenience to poor beneficiaries of rural housing schemes and also will dampen the goals of 5 lakh houses,” wrote the CM.

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