MDMK chief Vaiko urges govt to lift restrictions on cooperative banks

In a statement, he said such restrictions had crippled public distribution shops run by them, besides affecting farmers who were unable to pay interest on their debts.

By: PTI | Madurai | Published:November 18, 2016 2:54 pm
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MDMK leader Vaiko has appealed to the government to effectively intervene to help farmers, who are reportedly now not able to withdraw their money from co-operative banks, following restrictions on financial transactions imposed on the sector by the RBI.

In a statement, he said such restrictions had crippled public distribution shops run by them, besides affecting farmers who were unable to pay interest on their debts.

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Those who had taken farm loan and other loans have been hit by the restrictions imposed on financial transactions by the RBI on the cooperative sector banks, he said.

Cooperative bank employees have staged protests and farmers were also picketing the cooperative banks, he said. “Government should intervene immediately,in view of the urgency,and lift the restrictions on transactions by the cooperative banks,” he added.

Meanwhile, farmers staged a road roko in front of the Nagapattinam Collector’s office seeking relief to the families of the farmers who had reportedly died or committed suicide due to loss of crop.

They staged the protest as officials allegedly refused to accept their memorandum seeking relief.