Allow DCC banks to accept deposits, CM urges Centre

4:50 PM, Friday, November 18th, 2016
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SiddaramaiahBengaluru: Chief Minister Siddaramaiah on Thursday urged the Centre to allow district central cooperative (DCC) banks to accept deposits according to the guidelines of the demonetisation scheme.

The decision to bar DCC banks from carrying out transactions has affected lakhs of farmers in the state. The farmers have not been able to repay their loans, draw fresh loans and deposit their cash in DCC banks, the chief minister stated in a letter to Union Finance Minister Arun Jaitley.

Siddaramaiah further said farmers who have taken farm loans will not be eligible for interest subsidy if they fail to repay loans within the due date. They will also not be eligible to get fresh crop loans for rabi crop.

Dairyfarmers have not been able to receive payments as the milk cooperative societies could not deposit money in the DCC banks, he added.

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