Punjab warns banks against minimum deposit from farmers

November 3rd, 2008 - 9:07 pm ICT by IANS  

Chandigarh, Nov 3 (IANS) The Punjab government Monday asked banks to open zero-balance accounts of farmers to facilitate payment of paddy bonus to them.Food and Supplies Minister Adesh Pratap Singh Kairon had taken a serious view of the practice that some banks are demanding Rs. 2,500 to Rs.5,000 for opening their bank accounts, ministry spokesman said.

The Punjab government decided to pay bonus to the farmers directly into their bank accounts. For this, many farmers are required to open bank accounts.

Kairon strongly advised the banks to open accounts of farmers with zero-balance facility failing which the erring banks will be de-panelled from handling accounts of the food and supplies department.

He said that no financial burden should be put on the farmers by the banks by way of minimum deposit.

Tags: , , , , , , , , ,

Posted in Business |