In the wake of demonetization the Centre as well as some forward looking dairy cooperatives such as GCMMF and Mother Dairy have gone cashless and the percentage of farmers with bank accounts has increased from 49.27% to 63.42%, claim govt reports.
The cashless transactions with farmers have increased from 23.82% to 72.25%. Due to follow ups by the union govt now only 27.75% farmers are being paid through cash,the balance through bank accounts.
According to a report there are 1.70 lakh Dairy Co-operative Societies at village level having 1.6 crore milk producers affiliated with 218 milk unions. About 850 lakh litres per day Milk is procured totally, of which co-operative sector procures about 425 lakh litres per day.
The value of the milk procured by Village level DCS is to the tune of rupees 120 crore per day. For weekly and 10 day payment cycle the substantive amount is to be disbursed to lakhs of milk producers spread over varied geographical areas.
The payment situation is being reviewed and monitored periodically by the Central Government.
As per information received from NDDB and 23 major State Co-op dairy federations, the status of cashless payment to milk producers is impressive.