Media Monitor
Agriculture Industry
Demonetisation: Farmers to get 60 additional days for repayment of crop loans, says RBIedit
The Reserve Bank of India (RBI) on Monday said that in view of demonetisation of Rs 500 and Rs 1,000 notes, farmers, whose short term crop loan repayment date falls between 1 November and 31 December, will get an additional 60-day grace period. Representational image. Reuters “In view of the constraints faced by farmers for timely repayment of loan dues on account of withdrawal of legal tender status of Specified Bank Notes (SBNs), it has been decided by the government to provide an additional grace period of 60 days for prompt repayment incentive of 3 percent to those farmers whose crop loan dues are falling due between 1 November and 31 December,” RBI said in a notification.
Declare Tamil Nadu drought-hitedit
They demanded constitution of Cauvery Management Board and Cauvery Water Regulatory Authority, waiver of all crop loans, sanction of Rs.30,000 an acre as compensation to farmers, Rs.25,000 to families of agricultural labourers and Rs.25 lakh as relief to families of farmers who committed suicide
Cotton corporation goes in for purchase of the commodity at mkt ratesedit
State-run Cot-ton Corporation of India (CCI) has resorted to commercial purchase of cotton at market rates from various parts of the country to ensure supplies for its customers in the textiles industry. The corporation has is-sued notices reaching out to buyers informing them that the Corporation will shortly commence e-auction of FP bales for the cot-ton season 2016-17.
Technology in Agriculture
Payments locked in banks, farmers count their lossesedit
Chhota Singh has anxiety writ large on his face. He is unable to find a way to return the money he had borrowed from relatives for his grandson’s marriage. “The banks refuse to make payments owing to the cash crunch. How am I to return the money?” he asks, adding he has never felt so belittled before.