SKM holds protests against new cooperative societies rules, submits memorandums
Samyukt Kisan Morcha staged protests in Kapurthala and Shaheed Bhagat Singh Nagar against changes in cooperative societies rules and loan conditions.
Following the call of Samyukt Kisan Morcha, protests were held across Punjab against amendments to rules concerning cooperative societies and new conditions of the loan system, and memorandums were submitted to officials.
At the district courts in Kapurthala, farmers gathered outside the office of the Deputy Registrar of Cooperative Societies and raised slogans. Farmer leaders alleged that the new changes brought by the government are against the interests of farmers and will further increase the financial burden on the agricultural sector.
According to farmer leaders, through the new amendments, the share of members in societies has been increased up to two to three folds. In addition, it has been stated that land must be mortgaged while taking a loan of more than two lakh rupees, whereas necessary provisions already exist under the Punjab Cooperative Societies Act. The leaders also objected that if a cultivator takes an agricultural loan from another bank branch instead of the society, 11 percent interest is being charged instead of four percent.
In Shaheed Bhagat Singh Nagar too, under the leadership of Samyukt Kisan Morcha leader Surinder Singh Bains, farmers submitted a memorandum to the Deputy Registrar. They raised demands to cancel the decision to mortgage land while making limits, to provide loans according to old rates, and to stop the trend of levying compound interest on farmers.
Meanwhile, the Deputy Registrar of Cooperative Societies stated that the government has approved the resolution of about 80 percent of the farmers' issues. On this, farmer leader Raj Kumar Jadli appealed that the remaining issues should also be settled soon.
Key developments
- Protests held outside cooperative societies offices in Kapurthala and Shaheed Bhagat Singh Nagar
- Demand to cancel the rule of mortgaging land on loans exceeding two lakhs
- Appeal to withdraw the system of recovering extra and compound interest
- Government has accepted 80 percent of demands according to Shaheed Bhagat Singh Nagar Deputy Registrar
