Top

Kurnool: Protesting auction of pledged gold ornaments, farmers lock SBI

Kurnool: Protesting auction of pledged gold ornaments, farmers lock SBI
Highlights

Tense situation prevailed at State Bank of India at Kovelakuntla in the district on Friday as farmers locked the doors of the bank and prevented the...

Kurnool: Tense situation prevailed at State Bank of India at Kovelakuntla in the district on Friday as farmers locked the doors of the bank and prevented the entry of bank staff. The farmers staged a protest in front of the bank demanding justice.

According to information, some farmers have taken crop loan by mortgaging gold and raised Bengal gram. After harvesting the yield, farmers have preserved the produce in godowns with the aim to sell on getting remunerative price.

As the time period for repayment of loan was over, the bank authorities reportedly have decided to auction the gold. The farmers on learning about the auction, reached the bank and questioned the bank officials on the issue. There were heated arguments between the farmers and bank staff. The farmers have sent out the bank staff and locked the bank.

A farmer Rama Subba Reddy of Gunjalapadu village in Kovelakuntla mandal said to media persons that he has taken crop loan after mortgaging gold in the bank. ``We had reaped good yield and the Bengal gram was stocked at the godown and we want to sell after getting good price for the commodity.

The loan period can be renewed, but the bank manager instead of rescheduling the loan period, and without our notice, has put our gold on auction,'' stated the farmer.

Even we did not receive any notice with regard to auction, said Rama Subba Reddy. He said we will not give up the protest till justice is rendered. Several other farmers were present at the protest and made similar complaints against the bank staff.

Show Full Article
Print Article

Download The Hans India Android App or iOS App for the Latest update on your phone.
Subscribed Failed...
Subscribed Successfully...
Next Story
More Stories