India News | Maha: Farmers Protest in Malegaon as Nashik Cooperative Bank Starts Loan Recovery

Nashik, Jan 16 (PTI) Thousands of farmers on Monday began a protest in Maharashtra's Nashik alleging the district's central cooperative bank was auctioning assets like land and vehicles of those who are unable to pay loans.

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The 'birhad' protest, where farmers were joined by their families, was led by Swabhimani Shetkari Sanghatana chief Rahu Shetti and took place in front of the Malegaon home of guardian minister Dada Bhuse. The minister was not in town.

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Protesters claimed some 60,000 farmers have been named in the defaulters' list of Nashik District Central Co-operative (NDCC) Bank, which had allegedly begun auctioning land and vehicles to recover loans.

Shetti and Bhuse met on Sunday night, but no solution came out of it, and the agitation would continue till they get an assurance about halting of such harsh measures, they added.

The NDCC must offer a one-time settlement mechanism similar to the process of nationalised banks for loan repayment, the protesting farmers said.

Bhuse said the state government was making efforts to find a solution and assured easing of the NDCC's recovery process.

The Balasahebanchi Shiv Sena minister also said the government has accepted the farmers' demand to charge 6-8 per cent interest for recovery of the outstanding loan.

The protesters have assembled at MHG College ground and Idgah ground to continue the protest.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)