- November 22, 2016 / 3 min readPatel emphasised that till date there has been no impact of demonetization of currency notes on milk procurement and sale of milk in the market. In fact, milk procurement of member unions of GCMMF has increased.
Jethabhai Patel, Chairman, GCMMF, AMUL, informed, "in view of the demonetization of currency notes by Central Government, we have made necessary arrangement to pay milk producer members for their milk price through direct credit in their bank account."
He further informed that, "even though 60 percent of milk producers already have bank accounts, but, due to some vested interests, the payment was made in cash. We are in the process of opening of the bank account for milk producers who do not have their bank account. We have been stressing for the need to go for cashless transactions for the last couple of years. We have asked all our dairy unions to help farmers open their bank accounts in the next couple of months."
Patel has informed that GCMMF (AMUL) and its 18 associated milk unions are paying around Rs. 450 crores on weekly basis to 36 lakhs milk producers through 18,500 milk cooperatives in Gujarat.
He has also informed that due to demonetization of currency notes and restriction by RBI on District Cooperative Banks, rural milk producers are facing shortage of cash.
However, Central and State Governments have made alternative arrangement with the help of RBI for cash disbursement through District Cooperative Banks to milk producers to protect their interest which will definitely help milk producers to meet their daily expenses related to animal husbandry and other requirements.
Patel emphasized that till date, there has been no impact of demonetization of currency notes on milk procurement and sale of milk in the market. In fact, milk procurement of member unions of GCMMF has increased.Trending ArticleDaily UpdatesWhich is the highest format preference of Fun-Seeker?
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