Coop credit societies ordered to sanction crop loans

Such accounts would charge no fee from farmers and the same would be debited from the DCCB, it said and added that such accounts would enable farmers to use electronic facilities (RTGS and NEFT) and issue cheques and DDs on par with other DCCB customers. The move follows a report by the cooperative registrar that PACCS were ineligible to exchange currency as they were non-banking entities under the 1949 Banking regulation act. Hence in addition to stopping banking activity, they were unable to collect premia for government schemes. They were also not eligible to exchange currency in the present monetary crisis. PACCS could get up to Rs. 24, 000 as each PACCS was treated as an individual customer by DCCBs. DCCBs, were barred from exchanging Rs. 500 and Rs.1000 notes. Farmers were affected due to lack of Rs.100 and Rs.2000 denomination notes. The order also allows DCCBs to engage retired bank staff to cope with additional work load anticipated. Similarly, fertiliser and seeds would be supplied free without insisting on cash and it would be adjusted against their crop loan. PACCS would arrange for farm equipment without insisting on rent in cash. It ordered the cooperative union to transfer Rs.1.50 crore to DCCBs for payment of honorarium to temporary staff.

Information minister Kadambur Raju reviewed the works of the state government mouthpiece ‘Tamilarasu’ including its newly acquired Rs. 4 cr four colour offset press, on Wednesday. Interacting with department officials, the minister said that more subscriptions should be collected for the magazine which should also sent to all government libraries in the state. This would benefit the common man as the monthly contained a lot of useful information and official statistics, he added. It may be recalled that Rs.6.23 crore new buildings were built for the official press at Taramani and inaugurated by CM Jayalalithaa in September 2015. Those present included information secretary R. Venketesan, director J. Kumaragurubaran, additional director UL Ravindran and deputy director  DS Subramaniam.