AP Runa Mafi G.O.MS.No.224 Dated 16.12.2014

AP Runa Mafi G.O.MS.No.224 Dated 16.12.2014. Rythu Runa Mafi G.O No.224 Dated 16.12.2014.

AP Runa Mafi G.O Ms.No.224 Dated 16.12.2014 is released. AP State Govt has released this G.O  and stated that the Runa Mafi amount will directly be credited into the bank accounts of the farmers. The following is the G.O Ms.No.224 copy

Farmers’ Empowerment Programme - Farmers’Debt Redemption – Transfer of Funds by Rythu Sadhikara Samstha to the Farmers’ Accounts – Supplementary Orders Issued.

FINANCE (EBS-II – A&C) DEPARTMENT, G.O.MS.No.224 Dated 16-12-2014
Read the following:
1.  GO Ms No. 218 Finance (EBS-II – A&C) Department dated 04.12.2014

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ORDER:

1.  In the reference read above, the Government issued orders detailing the process for transfer of funds from the Rythu Sadhikara Samstha to the farmers’ accounts as part of the agricultural debt redemption policy of the Government. However, after considering the representations received from the Banks, the Government hereby order for the following amendment to the orders issued in the reference read above. 2.  The last sentence in the para-11 on page-3of the order, i.e., “the Branch Manager shall appropriate the insurance claim, if any, received from the Agriculture Insurance Company of India Ltd (AIC), by notionally reducing the outstanding balances in the respective accounts as on 31 December 2013, before computing the amount of benefit” shall stand deleted from the captioned GO. Accordingly, the insurance claim, if any, received from the AIC need not be reduced from the outstanding balances in the respective accounts as on 31 December 2013,while computing the benefit amount. 3.  Some Banks have represented that since all branches are on core banking system (CBS), there would be no need to open an escrow account at every branch level, as all transactions can be processed through a single Nodal escrow account. The Government accepts this proposition and orders that the Banks on CBS may operate all transactions through a single Nodal escrow account as long as the other parameters are strictly adhered to. However, those Banks, especially the co-operative banks, that do not operate all branches through an integrated system would have to establish a separate escrow account in each branch

Download G.O Ms.No.224 Dated 16.12.2014 for more information

AP Runa Mafi