Latest news with #PAyyakannu
Time of India
3 days ago
- Politics
- Time of India
Farmers protest in Manapparai over loan denials, water crisis
Trichy: Members of the Desiya Thenninthiya Nadhigal Inaippu Vivasayigal Sangam, led by P Ayyakannu, staged a protest at the Manapparai bus stand on Sunday, raising key demands related to farm distress, water scarcity, and agricultural loan policies. The protesters said cooperative banks were denying fresh crop loans on the grounds of low CIBIL scores, even to those who had repaid previous loans. They demanded exemption from CIBIL score criteria for agricultural loans and called for fresh loans to be issued within a week of repayment. Highlighting rising input costs, farmers sought an increase in crop loan limits and criticised the Centre for failing to deliver on the promise of Minimum Support Price (MSP) at twice the input cost. They also questioned why farm loans are not waived while public sector banks have written off loans in other sectors between FY16 and FY25. Their other demands included interlinking of southern rivers, water supply from Mettur or Aliyar dam to the Ponnani River and Kannoothu dam, a monthly pension of ₹5,000 for farmers, round-the-clock three-phase electricity, and installation of CCTV cameras along the national highway to curb theft. Carrying placards, the protesters urged the government to act immediately to safeguard farmers' lives and livelihoods.
New Indian Express
24-06-2025
- Politics
- New Indian Express
Farmers lock bank in Tiruchy, say officials not following RBI norms in loan disbursal
TIRUCHY: Tension prevailed in Cantonment area for a while on Monday when a group of farmers led by P Ayyakannu, president of the Desiya Thenninthiya Nathigal Inaippu Vivasayigal Sangam, staged a protest by locking the gates of the regional office of the district's lead bank, located in the area. The farmers alleged the nationalised bank has been adopting 'anti-farmer attitude' and demanded action against officials for violating Reserve Bank of Indian (RBI) norms. A large number of farmers gathered at the premises, raising slogans and expressing disappointment over banks withholding government-disbursed funds under welfare schemes like the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) and the Prime Minister's financial assistance scheme. The protesters claimed that banks were citing pending agricultural loans as a reason for withholding the funds-actions they say go against RBI guidelines. Adding to their grievances, the farmers alleged that banks were refusing agricultural loans by insisting not only on CIBIL scores but on complete CIBIL reports to assess credit eligibility. 'Subsides and financial assistance from the union and state governments are routed through nationalised banks. But for the last four years, tractor subsidies have not been disbursed. Now, the same banks are seizing tractors due to loan defaults,' Ayyakannu said. The protest also disrupted regular operations as the locked gates prevented customers from entering the bank, causing inconvenience. Police personnel from the Cantonment station arrived at the scene and pacified the protesters, assuring them that their concerns would be conveyed to the appropriate authorities. The demonstration concluded peacefully following the assurance. A similar protest was reported outside the bank branch at Pachaperumalpatti near Thuraiyur.
Time of India
23-06-2025
- Politics
- Time of India
Farmers protest bank deductions in Trichy
Trichy: Members of the National South Indian Rivers Interlinking Farmers Association staged a protest at the Indian Overseas Bank's (IOB) regional office in Trichy on Monday, demanding that the bank stop deducting government scheme assistance from their accounts to recover unpaid loans. Led by association president P Ayyakannu, the farmers locked the office gates near Cantonment and staged a sit-in inside the premises. They alleged that the bank was unfairly deducting funds credited under Union government schemes, checking CIBIL scores before issuing agricultural loans, and seizing farm equipment for loan defaults. Bank officials appealed to the protesters not to disrupt operations or obstruct staff and customers. Cantonment police, who arrived at the scene, urged the farmers to submit a written petition outlining their grievances. Following this, Ayyakannu and senior representatives held a meeting with IOB officials in the presence of police. The bank assured them that the demands would be reviewed, after which the protesters dispersed.
Time of India
26-05-2025
- Business
- Time of India
Farmers protest RBI's regulations on gold loans
Trichy: Farmers undertook a protest near the SBI main branch at cantonment in Trichy on Monday, condemning RBI's new gold loan regulations including reducing the gold loan-to-value ratio from 85% to 75%. Protesters led by Desiya Thenidhiya Nathigal Inaippu Vivasayigal Sangam leader P Ayyakannu later blocked district collector Pradeep Kumar's car while entering the collectorate. The collector immediately got out of the car and received the petition from them. Farmers expressed 'deep concern' over the rules, which they said would push them towards financial despair. The petition sought old purchase receipts and proof of purity for pledged ornaments. "Expecting farmers to produce 20-year-old receipts is unrealistic. These restrictions are forcing farmers into desperation," Ayyakannu said. The petition also highlighted the changes to the Kisan Credit Card (KCC) scheme. "Until last year, loans up to 3 lakh were given at 7% interest, with a 3% subsidy on timely repayment. Now, banks refuse to renew loans if only interest is paid," it read. The protesters also questioned why banks ignored an RBI order from Dec 2024 that allowed collateral-free loans up to 2 lakh. The petition also hit out at the govt for waiving 24 lakh crore in corporate loans while denying fair support to farmers.
