The Reserve Bank of India on Friday nudged banks managing currency chests to engage district co-ordinators of state level bankers' committee to ensure fair and even flow of money to farmers for their winter crop requirements in view of cash shortage post demonetisation.
To ensure adequate allocation of banknotes is made for rural branches, post offices and DCCBs, banks are advised to involve the district co-ordinators (Lead District Managers) functioning under state level bankers' committee in facilitating and planning distribution of currency from chests, RBI said in a notification.
As per estimates, the planting season requires Rs 35,000 crore in the form of crop loan to farmers, that is Rs 10,000 crore a week.
Adequate cash supply should also be ensured for rural branches of all commercial banks, RBI stated. Bank branches in agricultural produce market committee are also to be supplied with enough cash to meet farmers' demand.