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Andhra Pradesh
Amalgamation of rural banks demanded
By Our Staff Reporter
HYDERABAD,
JUNE 8.
The All-India Regional Rural Bank Employees' Association on Tuesday demanded amalgamation of all rural banks to form six zonal rural banks in the country, as recommended by the bankers' committee.
S. Venkateswar Reddy, secretary of the association, said in a statement that the proposed banks must be liberated from the clutches of the sponsor banks.
The Government must constitute an apex body over the zonal banks to coordinate and direct the overall development of rural economy.
He urged the Government to extend interest rebate to regional rural banks, as being done in the case of cooperative banks.
The crop insurance should be modified comprehensively, individual farmer as unit, and also to cover the medical needs of the family members of farmers, apart from shield against proper remunerative prices and input costs over the technical committee rates.
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