Kamareddy: Bank officials pitch red flags, use flexis to announce land auctions due to unpaid debts
According to reports, the bank officials have erected the flexies on the fields of farmers who failed to pay the loan amount and warned that if they failed to repay the loans their fields would be auctioned.
Kamareddy: The District Cooperative Central Bank (DCCB) has erected flexies and pitched red flags on the fields of farmers who have not paid the loan amounts in Polkampet village of Lingampet mandal of the district creating restlessness among the farming community.
According to reports, the bank officials have erected the flexies on the fields of farmers who failed to pay the loan amount and warned that if they failed to repay the loans their fields would be auctioned. The farmers are expressing their grievances that the bank officials were insulting them by putting flexis in their fields.
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Though the farmers are ready to repay the loan amount if the interest rates are reduced, the bank officials have clarified that they have no intention to do so. The incident has sent shock waves among the farming community in the district and are criticizing the action of the bank.
A District Co-operative Central Bank (DCCB) is a rural cooperative bank operating at the district level in various parts of India. It was established to provide banking to the rural hinterland for the agricultural sector with the branches primarily established in rural and semi-urban areas.
