Co-op banks still dry, farmers helpless

Kolhapur | Tuesday | 10th January, 2017

Summary:

Thousands of farmers, who are members of the cooperative sugar mills and diaries, have been waiting for months to receive their payments. Kolhapur: The Kolhapur District Central Cooperative Bank (KDCCB) is still struggling to receive sufficient cash supply after more than two months of demonetisation. The Reserve Bank of India (RBI) has not changed its norms for the cooperative banks since demonetisation.The bank is dependent on the cash supply from local currency chests of nationalised banks. "A large network of the cooperative sugar factories and diary cooperatives are linked to the KDCC. "Chavan added that they have made several requests to the apex bank regarding cash supply, but have not received any response.He added that the farmers bills are piling up..