Moneycontrol PRO
The Learning Curve
The Learning Curve
HomeNewsTrendsAmid rising prices, Congress opens 'State Bank of Tomato' in Lucknow

Amid rising prices, Congress opens 'State Bank of Tomato' in Lucknow

While the prices are expected to come down within a fortnight, the Congress opted for a unique way to protest against the rising prices

August 03, 2017 / 16:21 IST

Seeing the rising tomato prices in the country, Congress chose a unique way to protest against the government. The grand old party opened a 'State Bank of Tomato' in Lucknow.

According to a report by Times of India, the 'bank' so opened will operate from 10 am to 5 pm. It promises a variety of "attractive offers" that include a 5X return on the tomatoes deposited by a period of six months, a locker for tomatoes, 80 percent loans on tomatoes and attractive interest rates for depositing tomatoes, especially for the poor.

Also Read: Delhi govt orders daily inspections to check hoarding of tomatoes and onions

While this entire act is comical, buyers and sellers are having a bad time due to a spike in rates.

Tomato prices in major metros were at Rs 95/kg in Kolkata, Rs 92/kg in Delhi, Rs 80/kg in Mumbai and Rs 55/kg in Chennai on July 29, according to data from the Ministry of Consumer Affairs.

ANI was the first to tweet that Congress had opened a bank called State Bank of Tomato in Lucknow, Uttar Pradesh.


Also Read: More reason to cry! Not just tomatoes, now onions too will pinch your pockets

An unequal monsoon leading to floods in some parts of the country and droughts in others is being seen as the factor responsible for skyrocketing prices of tomato in the country.

first published: Aug 3, 2017 04:21 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347