1. Demonetisation: NABARD sanctions Rs 21,000 cr to DCCBs to help farmers in Rabi season

Demonetisation: NABARD sanctions Rs 21,000 cr to DCCBs to help farmers in Rabi season

Economic Affairs secretary Shaktikanta Das addressed the media on demonetisation and said that the National Bank for Agriculture and Rural Development (NABARD) had already sanctioned an additional Rs 21,000 crore to the District Central Co-operative banks

By: | Published: November 23, 2016 11:21 AM
demonetisation, shaktikanata das, shaktikanta das anniouncement, nabard, district central cooperative banks, nabard 21000 crore Shaktikanta Das said that the government was planning measures to ensure a smooth flow of credit to farmers for the Rabi season. (PTI)

Economic Affairs secretary Shaktikanta Das addressed the media on demonetisation and said that the National Bank for Agriculture and Rural Development (NABARD) had already sanctioned an additional Rs 21,000 crore to the District Central Co-operative banks. Das said that that the measure was taken as more than 40% of the small-scale farmers go to co-operative banks. Das also said that the government had already announced that the govt.-approved centres and outlets would accept old notes for the purchase of seeds.

Das further said that that more cash would be disbursed to the farmers if it was needed. The NABARD and the Reserve Bank of India (RBI) advised the government to give cash to all the District Central Co-operative Banks. The banks have been advised to ensure seamless crop loan sanctions to the farmers. Das said that the government was planning measures to ensure a smooth flow of credit to farmers for the Rabi season.
Das informed the media that charges on the use of debit cards had been lifted till December 16, 2016. Speaking of other reliefs provided to the people, Das said that the Railways has lifted the service charges on the online booking of tickets till December 31, 2016. Das further stated that one of the reasons of the demonetisation was to encourage to move towards a digital economy and the results have been encouraging. Speaking about the ATM recalibration, the Economic Affairs Secretary said that 82,000 ATMs have already been recalibrated and the rest would also be done soon.

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