ROURKELA: In the aftermath of demonetisation of high value currency notes and lack of cash flow to rural areas, farmers have resorted to barter system for livelihood.
Bijay Xalxo of Bolani village under Lathikata block in the tribal-dominated district said he had to stop making payments to farm labourers for a week due to cash crunch. To complete the ongoing paddy crop cutting process, he has assured each of his labourers to pay 10 to 12 kg paddy for a day’s work.
Xalxo said, “In the barter system, we bear losses as minimum support price of paddy of common grade and A grade is Rs 14.7 to Rs 15.10 per kg.” However, under the present circumstances we have no option but to follow this method, he added.
Incidentally, 16 days after the banning of Rs 500 and Rs 1000 notes, the rural and unbanked areas of the district continue to struggle for adequate cash flow. The Centre’s belated move to rope in Cooperatives banks and societies to deal with the money needs of farmers, has come as a great relief for them. Nabard office sources said in the ongoing rabi crop season, 16 rural cooperative bank branches and 44 LAMPS would be entrusted with disbursement of rabi crop loans and meet other monetary needs of farmers. The Coop banks and LAMPS had accounted for Rs 154.19 crore of the total Rs 265.08 crore ariculture loans disbursed in 2015-16 for kharif and rabi crop seasons with their shares being about 58 per cent. Senior Superintendent of Postal Department Trilochan Ray said, three head post offices and 80 sub-post offices are catering to the banking needs of the district’s rural and urban population.
Collector Bhupendra Singh Poonia said, “Five mobile banking units and 135 bank correspondents are additionally working in remote areas and the administration has assured all logistic and manpower support to banks to expand service areas.