-The Hindu They are often detained for carrying their annual savings — Rs.5,000 to Rs.6,000 — to nearby banks. Kolkata: Deep inside the forested areas of Bastar in south Chhattisgarh, the Gond tribals are confronting a “new problem” besides the usual ones. They are often detained for carrying their annual savings — Rs.5,000 to Rs.6,000 — to nearby banks, which is commonly as far as 50 km from their villages. “We are suspected...
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Demonetisation derails cashless plan at APMC markets -Abhiram Ghadyalpatil
-Livemint.com Farmers are getting paid for their produce by traders either by cheque, but many farmers are not able to encash the cheques due to currency shortages at banks Mumbai: Nearly three weeks after the partial demonetisation of Rs500 and Rs1,000 notes, cashless contracts are running the trade at Maharashtra’s major agricultural markets, but problems with bank liquidity persist. Farmers are getting paid for their produce by traders either by cheque or via...
More »Demonetisation Has Wrecked Farmers -Jaideep Hardikar
-TheWire.in Farmers in Vidarbha are being forced to incur terrible losses – by accepting lower prices, losing their perishable produce, or due to a fear of depositing cash payments in old notes in banks where they owe loan repayments. Bandu Ghormade had no choice but to accept the old Rs 500 notes from the procurement agent and a lower price of Rs 200 less for every 40 kilo crate of his freshly...
More »Demonetisation Alone Can't Turn Agricultural Markets Cashless -Nidhi Aggrawal and Sudha Narayanan
-TheWire.in A large chunk of India’s farmers continue to depend on commission agents and not formal institutions for credit, thereby relying on cash. It is now official. Demonetisation has led to an implosion of agricultural trade in the country. In the week following demonetisation, soyabean arrivals in select major states had collapsed by 87% relative to average arrivals over the week preceding demonetisation. The figures were 55% for paddy, 61% for guar,...
More »Rural distress -TK Rajalakshmi
-Frontline.in To rural India, which is already reeling under multiple crises, demonetisation has come as yet another blow. WHEN the Prime Minister made the decision to withdraw Rs.500 and Rs.1,000 notes, he did not quite factor in the impact it would have on agriculture. Despite the rhetoric the concept of digital wallets has not yet entered rural India unlike in much of the country’s urban areas, and much of rural and...
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