Demonetisation Dairy Dares
Rural & Marketing|January 2017

Diary organisations procure milk from lakhs of farmers. Some have been making payments to farmers through bank transfers while some are still disbursing cash. The demonetisation move has changed the way Indian dairy sector functions. Mohd Mustaquim reports on how dairy dares to take the challenge.

Mohd Mustaquim
Demonetisation Dairy Dares

The demonetisation of high value currency notes - Rs 500 and Rs 1000 - resulted into a massive cash crunch for the the dairy industry in procuring milk from the farmers. One of the leading dairies from India’s southern peninsula, the Kerala Cooperative Milk Marketing Federation (KCMMF), famously known as milma, faced tremendous heat on disbursing cash to its milk producing farmers.

Before the demonetisation move by the Government, KCMMF had been paying to 90 per cent of its 500,000 milk producers in the form of cash through its three union and over 3,000 primary milk cooperative societies. KCMMF is making payments to primary cooperative societies through bank transfers while these societies had been paying farmers through cash on weekly basis. The cash crunch following the demonetisation paralysed the functioning which led to food crisis among these farmers within 10 days.

Learning from other dairy cooperatives, the badly affected KCMMF found a way to transfer the payments to the bank accounts of the farmers. Informing about the development, PT Gopala Kurup, Chairman, KCMMF said to R&M, “Since the Government of India demonetised the Rs 500 and Rs 1000 currency notes and put restrictions on withdrawals, our cooperative societies were not able to withdraw the cash from banks. In Kerala, over 90 per cent of farmers already have bank accounts for getting government’s subsidies under Direct Benefit Transfer scheme. Thus, immediately, we started transferring the payments to farmers’ bank accounts.”

“Some societies are transferring to banks, some are paying through cheques, some have their localised milk chains who collect and make payments in cash. Today, within 20 days, 80-85 per cent farmers are getting payment through their bank accounts. We have asked rest of the farmers to open their accounts as soon as possible,” Kurup added. 

Diese Geschichte stammt aus der January 2017-Ausgabe von Rural & Marketing.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der January 2017-Ausgabe von Rural & Marketing.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS RURAL & MARKETINGAlle anzeigen
Vision For Vision Eye Mitra Plans To Train 10,000 Opticians In Rural India By 2020
Rural & Marketing

Vision For Vision Eye Mitra Plans To Train 10,000 Opticians In Rural India By 2020

Eye Mitra Optician programme, run by 2.5 New Vision Generation (2.5 NVG), a division of Essilor India has trained and created 2,500 rural youth to be opticians in their villages in three years. 2.5 NVG plans to take the number to 10,000 by 2020. Milind Jadhav, head, 2.5 NVG - India, talks to Mohd Mustaquim about the programme and its impact.

time-read
5 Minuten  |
March 2017
Post Budget 2017-18  10 Strategies Companies Must Follow To Tap Rural Markets
Rural & Marketing

Post Budget 2017-18 10 Strategies Companies Must Follow To Tap Rural Markets

Companies ranging from FMCG, Consumer durables to Auto, Budget 2017-18 has several reasons for them to smile as rural demand is expected to increase. Companies now gear up to capture the markets and preparations are on. BK Jha Reports.

time-read
5 Minuten  |
March 2017
Why should you invest in Rajasthan's Agriculture Sector​​​​​​​
Rural & Marketing

Why should you invest in Rajasthan's Agriculture Sector​​​​​​​

The state government is organising Rajasthan Global Agritech Meet (GRAM) in Jaipur on November 9-11 and it aims at doubling farmers' income by 2022.

time-read
2 Minuten  |
October 2016
Agri Enterprises Will Get Customised Policy for Different Investment Slabs
Rural & Marketing

Agri Enterprises Will Get Customised Policy for Different Investment Slabs

Rajasthan Government is organising an International Agritech Conference cum exhibition in Jaipur in November this year. Senior Cabinet Minister Yoonus Khan spearheaded the New Delhi Roadshow for the event. In an exclusive interview with BK Jha, he spoke about investment opportunities in the state.

time-read
3 Minuten  |
October 2016
Rabi Campaign Be Wise, Sow Wisely
Rural & Marketing

Rabi Campaign Be Wise, Sow Wisely

The Union Agriculture and Farmers Welfare Minister Radha Mohan Singh asks farmers to fix crop wise targets and to introduce new technologies & practices in the agriculture sector. BK Jha analyses the prospects of the forthcoming Rabi crops and achievement of Kharif season 2016.

time-read
7 Minuten  |
November 2016
Bone-numbing truth of Osteoporotic epidemic in India
Rural & Marketing

Bone-numbing truth of Osteoporotic epidemic in India

The number of bone related cases and fractures occurring due to Osteoporosis problem is steadily increasing BK Jha

time-read
2 Minuten  |
November 2016
RPCAU Will Be The Prime Mover Of Second Green Revolution In Eastern India
Rural & Marketing

RPCAU Will Be The Prime Mover Of Second Green Revolution In Eastern India

The fourth oldest agricultural university in India, Dr. Rajendra Prasad Central Agriculture University (RPCAU), formerly known as Rajendra Agricultural University (RAU) has played an important role in agricultural development in the eastern states. Located at Pusa in Samastipur, Bihar, the varsity has now upgraded to Central University in May 2015. It is seen as a big driver of second Green Revolution, expected to be taken place in the region. Dr. RC Srivastava, Vice Chancellor, RPCAU talks to Mohd Mustaquim on the various issues related to second Green Revolution and agricultural research in the region.

time-read
6 Minuten  |
February2017
Take Over Tussle Takes Off
Rural & Marketing

Take Over Tussle Takes Off

The Ministry of Food Processing Industries (MoFPI) seeks complete control over organisations which do not come under its administrative control but has onus of developing business related to these agencies. Tussle with two other ministries has now reached to the highest level-PMO. An exclusive Report by Mohd Mustaquim.

time-read
5 Minuten  |
February2017
Genetic editing Technology would replace GMOs for Agricultural Advancement
Rural & Marketing

Genetic editing Technology would replace GMOs for Agricultural Advancement

In a candid interview with Tafeem Siddiqui, Father of Green Revolution MS Swaminathan says the government should invest more public sector research which is transforming agriculture and gene editing technology is the new mantra for higher productivity

time-read
9 Minuten  |
April 2017
Demonetisation Dairy Dares
Rural & Marketing

Demonetisation Dairy Dares

Diary organisations procure milk from lakhs of farmers. Some have been making payments to farmers through bank transfers while some are still disbursing cash. The demonetisation move has changed the way Indian dairy sector functions. Mohd Mustaquim reports on how dairy dares to take the challenge.

time-read
5 Minuten  |
January 2017