MARKET DEVELOPMENT
Oil Palm Ryots Lauded For Utilising Cashless Facility
Oil Palm Ryots Lauded For Utilising Cashless Facility
23/01/2017 (The Hindu) - Commending the oil palm farmers for making good use of the cashless transaction facility, chief manager of the State Bank of India’s Agriculture Development Branch, Peddapuram, S. Srinivasa Rao on Saturday highlighted the need for going digital with regard to banking transactions by making better use of mobile applications.
“Banking is now just a few clicks away on your mobile phones. Besides making and receiving calls, you can now use your mobile phone as your wallet,” he said, addressing an awareness programme on cashless transactions organised by the oil palm division of the Ruchi Soya Industries Limited at Singampalli village of Rangampeta mandal near here.
Observing that all the oil palm farmers had been maintaining bank accounts for the last two decades, Mr. Rao advised them to use cheque books, point of sale devices and online transactions to overcome currency shortage. “Most of the farmers are worried about making payments to labourers in the wake of shortage of currency. Since most of the labourers have Jan Dhan accounts, you can make online transfers,” he said.
Corporate head of the company P. Mallesam said that there were no cash transactions in their group, as the payments against purchase of oil palm kennels were made through bank accounts. “We have been practising it for the last two decades and that is why demonetisation has not affected our farmers,” he said, adding that PoS devices were installed in all the 18 service centres, from where the farmers procure fertilizers.
Former president of the Andhra Pradesh Oil Palm Farmers Association Satti Rama Reddy, district president Pendyala Buchi Babu, Assistant Director of Horticulture Gopi Kumar and others were present. Progressive oil palm farmers M.V.V. Satyanarayana Murthy and Arumilli Abbai Chowdary were felicitated on the occasion.
“Banking is now just a few clicks away on your mobile phones. Besides making and receiving calls, you can now use your mobile phone as your wallet,” he said, addressing an awareness programme on cashless transactions organised by the oil palm division of the Ruchi Soya Industries Limited at Singampalli village of Rangampeta mandal near here.
Observing that all the oil palm farmers had been maintaining bank accounts for the last two decades, Mr. Rao advised them to use cheque books, point of sale devices and online transactions to overcome currency shortage. “Most of the farmers are worried about making payments to labourers in the wake of shortage of currency. Since most of the labourers have Jan Dhan accounts, you can make online transfers,” he said.
Corporate head of the company P. Mallesam said that there were no cash transactions in their group, as the payments against purchase of oil palm kennels were made through bank accounts. “We have been practising it for the last two decades and that is why demonetisation has not affected our farmers,” he said, adding that PoS devices were installed in all the 18 service centres, from where the farmers procure fertilizers.
Former president of the Andhra Pradesh Oil Palm Farmers Association Satti Rama Reddy, district president Pendyala Buchi Babu, Assistant Director of Horticulture Gopi Kumar and others were present. Progressive oil palm farmers M.V.V. Satyanarayana Murthy and Arumilli Abbai Chowdary were felicitated on the occasion.