PM Modi’s notes ban weakened farmers’ financial state, RBI guv is ruining their lives: Shiv Sena | mumbai news | Hindustan Times
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PM Modi’s notes ban weakened farmers’ financial state, RBI guv is ruining their lives: Shiv Sena

Mumbai city news: The Shiv Sena lauded its rival, NCP chief Sharad Pawar, for exposing how old notes were lying in district cooperative banks

mumbai Updated: May 29, 2017 11:24 IST
Swapnil Rawal
Farmers are not getting relief from debt and neither can they ask for loans once again, read an editorial in the party’s mouthpiece.
Farmers are not getting relief from debt and neither can they ask for loans once again, read an editorial in the party’s mouthpiece.(HT File Photo)

In the latest of a series of attacks on its ally, the Shiv Sena took digs at Prime Minister Narendra Modi’s decision to demonetise Rs1,000 and Rs500 notes, claiming that it had weakened farmers’ financial state. In an editorial in the party mouthpiece ‘Saamana’, the Shiv Sena said that on one hand, the Maharashtra government was not waiving the loans of “distressed” farmers, while on the other, demonetisation left district cooperative banks unable to loan farmers money to sow Kharif crops.

“Farmers are not getting relief from debt and neither can they ask for loans once again. District co-operative banks are their only support, but the current Reserve Bank of India governor, with the help of the government, is trying to ruin farmers’ lives,” read the editorial.

The Shiv Sena also backed its political rival, Nationalist Congress Party (NCP) chief Sharad Pawar, who had first highlighted the issue of district cooperative banks and urged the Centre to come up with a solution. “Sharad Pawar is our political opponent, but he has exposed how old notes worth Rs8,000 are still lying in district cooperative banks. Is this one of the Modi government’s achievements over the past three years?” it added.

According to official figures, district cooperative banks still have deposits worth Rs2,772 crore in demonetised notes. Owing to the Centre’s indecision, these banks, which are the backbone of the state’s farm credit system, are unable to give farmers loans.