By 121 News
Chandigarh 04th February:- An organisation fighting for the rights of the farmers community, Youth Kamal Organisation president G.S. Happy Mann today said the organisation has taken a serious note of the complaint received with them as per which banks while giving them loans have not only put on mortgage their houses and jewellery but also took blank postdated cheques.
Taking up the cause of farmers in Punjab and Haryana, G.S. Happy Mann said that as per the RBI instructions blank cheques cannot be taken from bank customers. He added it had been clarified by the Honorable Supreme Court that cheques taken from customers are not covered under Section 138 of the Negotiable Instruments Act 1881. He said that a legal notice in this regard has been sent by the organisation to RBI and the Finance Department of the Government of India as the banks are going against the orders of the RBI and they should be stopped from doing so. However even then if the banks continue to violate RBI instructions the organisation will take legal recourse.
While giving the information he said that on February 10 a seminar would be organised at Nehru Stadium in Abohar. In the seminar farmers will get together, especially those who had given blank cheques.
G.S. Happy Mann said that as per a survey Punjab farmers have loan worth Rs 56,481 crores in banks and Rs 12,874 crore with moneylenders while small farmers have loan of Rs 55,574 per acre while it is Rs 50,211 per acre on big farmers. The Indian government from 2005 to 2015 has given 42 lakh crores income tax rebate to businessmen and as per the seventh pay commission 99 lakh employees' salaries will burden the exchequer with Rs 1.02 lakh crore.
G.S. Happy Mann said that when government could waive off loans of rich people then why not extend similar relief for farmers who are dying of hunger, especially when they are the people who are responsible for agriculture of the country which provides us with food.
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