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RS members seek more time for farmers to payback crop loan

 M Post Bureau |  2016-12-03 22:19:59.0  |  New Delhi

RS members seek more time for farmers to payback crop loan

More time should be given to farmers to pay interest on their crop insurance loans in view of the government’s demonetisation move, Rajya Sabha members said on Friday.

A Navaneethakrishnan (AIADMK) raised the issue during Zero Hour, saying the farmers are facing problems in paying interest on their crop insurance loans due to paucity of cash. “The date of payment should be (extended) as farmers are facing problems,” he added.

T K Rangarajan of the CPI(M) too raised the issue saying that the date should be extended by 15 days to help farmers pay interest on their crop insurance loans.

T Subbarami Reddy (Cong) raised a Point of Order saying Minister of State for Finance Arjun Ram Meghwal has made a “misleading statement” regarding cash available with the Reserve Bank of India (RBI) and the banks.

He quoted the Minister as saying that there was sufficient cash with the RBI and the banks, and said this is wrong as there is no cash. Anand Sharma (Cong) too raised the issue saying it was a “serious matter”.

Deputy Chairman P J Kurien then said he has given a ruling and directed the government to reply to Reddy’s Point of Order during the discussion on demonetisation. Madhusudan Mistry (Cong) said “we don’t want reply (from government), we want cash.”

Shantaram Naik (Cong) said he has moved a notice on breach of privilege by the Prime Minister for his statements outside Parliament. 

R Ananda Bhaskar (Cong) raised the issue of cashless transactions and cyber security and said the government is yet to take note of this issue adding that cyber criminals are targeting cashless transactions and if the system collapses then consumers would not be able to use cards to make payments.

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