Cooperative banks cheap loan are being massively misused by the biggies of Delhi. Whether the connivance of cooperative banks are there or not is a matter of investigation but NABARD’s data on the loans are earth shaking.
Delhi, which has a small cultivable land is claiming loans next after Punjab.
According to the National Bank of Agriculture and Rural Development (NABARD) data on loans given out by cooperative banks, there are more farmers doing agriculture in Delhi than Madhya Pradesh, Uttar Pradesh, Karnataka and West Bengal.
The farmers in Delhi were allotted loan of Rs 22,077 crore in 2009 alone at mere 5% rate of interest, which is the second highest after agriculture-rich Punjab.
Delhi’s loan disbursal amount is bizarre, as the city has a mere 39,000 hectare of cropped land, of which 26,785 hectare is the net area sown.Citing agriculture as their profession, hundreds of Delhi’s residents have taken loan on cheaper rates. According to the government officials these residents are city’s elite who have massive farmhouses and the so-called agriculture land in these farmhouses which are located in the outskirts of the city.
“These are owned by wealthy businessman and politicians. These farmhouse owners acquire loans citing agriculture as their profession. But these are only used for agriculture purposes,” official said.
According to the official, the only agriculture activity in these farmhouses is the planting of vegetables and flowers.
The owners also take loans as Kisan Credit Cards, which is 15,000 per hectare.
“The process is easy. A loan of up to 1.5 lakh per hectare is given without presenting any surety.”
According to an official of the agricultural directorate, “Getting illegal loans in the name of farming is quite rampant in Delhi. This land may be categorized as “agricultural”, but the fact is that it has become residence of billonaires.”