Farmers lock bank in Tiruchy, say officials not following RBI norms in loan disbursal
A large number of farmers gathered at the premises, raising slogans and expressing disappointment over banks withholding government-disbursed funds under welfare schemes like the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) and the Prime Minister's financial assistance scheme. The protesters claimed that banks were citing pending agricultural loans as a reason for withholding the funds-actions they say go against RBI guidelines.
Adding to their grievances, the farmers alleged that banks were refusing agricultural loans by insisting not only on CIBIL scores but on complete CIBIL reports to assess credit eligibility. 'Subsides and financial assistance from the union and state governments are routed through nationalised banks. But for the last four years, tractor subsidies have not been disbursed. Now, the same banks are seizing tractors due to loan defaults,' Ayyakannu said.
The protest also disrupted regular operations as the locked gates prevented customers from entering the bank, causing inconvenience.
Police personnel from the Cantonment station arrived at the scene and pacified the protesters, assuring them that their concerns would be conveyed to the appropriate authorities. The demonstration concluded peacefully following the assurance.
A similar protest was reported outside the bank branch at Pachaperumalpatti near Thuraiyur.
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