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DAIRY PRODUCTS

Amul milk producers to be paid through direct credit in bank accounts
Wednesday, 23 November, 2016, 08 : 00 AM [IST]
Our Bureau, Mumbai
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The Gujarat Cooperative Milk Marketing Federation Ltd (which manages Amul) has stated that in view of the demonetisation of currency notes by the government, it has arranged to pay milk producers through direct credit in their bank accounts.

This was stated by Jethabhai Patel, the federation’s chairman. He added that 60 per cent of milk producers already had bank accounts, but due to vested interests, the payment was made in cash.

“We are in the process of opening bank accounts for milk producers who do not have them. We have been stressing on the need to go for cashless transactions for the last couple of years,” he added.

“We have asked all our dairy unions to help farmers open their bank accounts in the next couple of months,” Patel said, adding that GCMMF and its associated unions were paying about Rs 450 crore on a weekly basis to 36 lakh milk producers through 18,500 milk cooperatives in Gujarat.

He also stated that due to the demonetisation of currency notes and restriction by the Reserve Bank of India (RBI) on district cooperative banks, rural milk producers were facing a shortage of cash.

However, the Central and state governments have made alternative arrangements with the help of RBI for cash disbursement through district cooperative banks to milk producers to protect their interests, which will definitely help milk producers meet their daily expenses related to animal husbandry and other requirements.

Patel said, “Till date, there has been no impact of demonetisation of currency notes on milk procurement and sale of milk in the market. In fact, milk procurement of member unions of GCMMF has increased.”
 
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