RBI to supply notes of about Rs 70 cr to Odisha DCCBs daily

Dec 15: The Reserve Bank of India (RBI) will supply around Rs 65 crore to 70
crore worth of notes to the District Central Cooperative Banks (DCCBs) on a
daily basis to meet the requirement of farmers with regard to crop loan, paddy
procurement proceeds and crop insurance claim.
Decision to this
effect was taken at a meeting chaired by Development Commissioner R
Balakrishnan with top RBI officials on Thursday at the State Secretariat here following
the directions of Chief Minister Naveen Patniak to improve the liquidity levels
of the DCCBs. Cooperation
Department Principal Secretary Manoj Ahuja outlined the issues.
wanted constitution of a WhatsApp group among senior officers from RBI, SBI,
State Cooperative Bank, Principal Secretary Cooperation and Director,
Institutional Finance for instant transfer of the messages and their
resolution. This would provide real time monitoring of the ground-level
situation about availability of currency in the banks. It was further decided
that the situation would be reviewed at the level of the Development
Commissioner on a day-to-day basis.
It was
briefed that the DCCBs in Odisha advance about 65 per cent of the crop loans
against the national average of 16 per cent. This year, a target has been fixed
to advance Rs 5,000 crore of crop loans to farmers during the current Rabi
season. In addition, Rs 1,776 crore has been disbursed through cooperative
banks to farmers towards insurance claim of the Kharif crop. Besides, around Rs
100 crore is being disbursed daily to farmers’ accounts towards paddy
procurement proceeds.
It was
expected that supply of Rs 65 crore to Rs 70 crore per day to the DCCBs would
cater to the immediate needs of the farmers
The issues
relating to deposit of money in Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts
also figured at the meeting. Some accounts opened under the PMJDY were found
not fully KYC-compliant, for which more than Rs 50,000 could not be deposited
in these accounts. The farmers who are to get more than Rs 50,000 towards the
cost of their paddy faced this problem. It was decided at the meeting that the
Aadhaar cards issued to the farmers would be used as the KYC. The farmers
having their Aadhaar cards would produce it in the banks and the banks would
make the accounts KYC-compliant.
It may be
pertinent here to mention that as of now, around 93 per cent of the adult
people of Odisha have been supplied their Aadhaar numbers. Permanent Aadhaar
registration centres have been functionalised at the tehsil level. Presently,
an Aadhaar registration campaign is also on in all districts. The farmers not
having Aadhaar numbers can get themselves registered in the nearest camp or
registration centre.

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