Need three months for readying cheques: Bankers

HYDERABAD: At a time when the State Finance department is gearing for the Herculean task of distributing cheques to 71.75 lakh farmers across the state in May, the bankers bowled a googly stating that they need at least three months time for readying the cheques.As the lead banker for the state is State bank of India, the Finance department requisitioned the bank officials for the huge quantity of cheque leaves. However, the bankers, stunned by the sudden demand for huge number of cheques leaves, told the Finance department officials that they required three months time for the printing such huge quantity of cheque leaves.

“All the cheque books will be printed in security printing press at Nasik and couple of other places. The daily printing capacity of cheque books is just 2 lakh in the country. We need at least three months time to meet your requirement,” the bankers informed the Finance department. However, the State government did not require cheque books as such. It will distribute cheques to each of the 71.75 lakh farmers by printing their names on the cheque books so that SBI has to produce individual cheques with farmers’ names.

Once, the cheques are printed, then the names of the farmers will be printed on them, official sources in the Finance department told Express on Saturday. The bankers will adjust that money against the crop loan dues of the farmers. “While taking the crop loans the farmers will give undertaking that any amount deposited in their accounts can be adjusted against the crop loan amounts. “So, the government decided to distribute cheques so that the farmer will go to bank and take cash,” an official explained.