Tribune reports in the absence of sufficient funds received from Nabard, the Punjab State Cooperative Bank is not giving short term crop loans to the farmers through its branches across the state. That apart, the unusual delay in the release of funds by the central govt this fiscal has only angered the state government.
Punjab govt officials say cooperative banks are arranging money from their own sources. Meanwhile, chief minister Prakash Singh Badal has dashed a letter to the central govt seeking Rs 7,262 crore as short term loans during the kharif season.
Official sources say the central govt had sanctioned funds for the purpose but Nabard had imposed a 20 per cent cut in the allocation of funds.
Punjab cooperative officials say they would protest against the cut in funds.
