Weekly Current Affairs

Notice

  1. Kolar is 2nd largest market for tomatoes in Asia (after Pimpalgaon, Nashik) and the largest in South India. Yet, the APMC market in Kolar, 70 km from Bengaluru, does not even have a bank branch or an ATM.
  2. This has put hundreds of farmers, traders, commission agents, transport agents and even truck drivers (who ferry the produce in and out) into severe hardship, especially after the demonetisation. Nearest ATM/bank branch is 1.5-2 km away.
  3. The lack of banking facilities is an infrastructure issue that can be overcome sooner or later. Cash shortage has impacted traded volumes of agri-commodities across APMCs in State by 35% & has negatively impacted prices, creating distress.
  4. Besides creating adequate banking facilities, the government should look at having banking correspondents at the village level so that cash can be made available to farmers at their doorsteps.