MDMK chief wants govt to lift restrictions on coop banks

Bs_logoImage
Press Trust of India Madurai
Last Updated : Nov 18 2016 | 2:22 PM IST
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.
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.

Disclaimer: No Business Standard Journalist was involved in creation of this content

Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories

  • Over 30 subscriber-only stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Nov 18 2016 | 2:22 PM IST