Submit :
News                      Photos                     Just In                     Debate Topic                     Latest News                    Articles                    Local News                    Blog Posts                     Pictures                    Reviews                    Recipes                    
  
Farm loan scam: Vidarbha farmers to beat drums in front of banks
Millions of debt-ridden farmers have welcomed the recent action of RBI in which it cracked the whip on all scheduled commercial and local area banks asking for complete details on farm loans and the beneficiaries' lists.

Kishor Tiwari, president Vidarbha Jan Andolan Samiti (VJAS) said: “The RBI has issued a deadline to all banks. The Agriculture Debt Waiver Scheme was started to help out thousands of farmers in the country. But who got it? Look at our Vidarbha and the border areas of Andhra Pradesh...the number of farmers who have committed suicide due to debt and exploitative policies of the Indian government, have not received a single paisa”.

Vidarbha farmers and widows will start a ‘beating drum’ agitation from Monday, March 11 in front of banks as bankers are still protecting culprits, Tiwari said.

“Hundreds of farm widows and distressed debt trapped farmers who were denied the loan waiver will start drum-beating agitation before Yavatmal district lead bank, Central Bank of India, Shibala branch and will continue the agitation till action is not taken against bank officers,” Tiwari said.

In a letter to the chiefs of all scheduled commercial and local area banks on Wednesday, the Reserve Bank of India (RBI) has sought the beneficiaries' lists with verification with priority to areas where indebtedness was high. The RBI has also asked for a list of eligible beneficiaries who were not extended benefits, with reasons for such denials, and action to be taken in all cases where malafide or carelessness appears likely, according to an official statement released last Wednesday.

Ordering the banks to issue debt waiver and debt relief certificates in all eligible cases immediately, the RBI asked them to keep full records of such issuance ready for the inspection. It has also said that the banks must identify the administrative and accounting lapses on the part of the bank officials, internal auditors, statutory officials who were responsible for the verification, certification, or for passing the claims.

The apex bank has also said that cases of extending benefits to ineligible beneficiaries must be dealt with 'on top priority' and full recoveries as per law must be made to ensure no loss to the exchequer. But as defaulters enjoy political protection there is suspicion that whole farm loam waiver scam will be covered as it has happened earlier scams, Tiwari feared.

COMMENTS (0)
Guest
Name
Email Id
Verification Code
merinews for RTI activists
In This Article
bank of india
(473 Articles)
rbi
(445 Articles)

Create email alerts

Total subscribers: 205623
Not finding what you are looking for? Search here.