There are accusations that the nationalized banks are charging interest from farmers on crop loans in Bhandara district in Mahararshtra even if there is an express order from the govt they should not do so.
As opposed to it, the district central cooperative bank is strictly observing the official order and not charging a farthing from the farmers.
Sources say while the cooperative bank is abiding by the govt order the nationalized banks are betraying avarice and ignoring directives from the government.
The nationalized banks are not only charging a big interest on crop loans but also not easily returning farmers the mortgaged things. This is a flagrant violation of the govt instruction, they add.
Bhandara District Central Cooperative Bank has not charged or recovered a single rupee from farmers. It has yet to get its Rs 6 crore from the government for previous year. Consequently, it is suffering huge losses, sources claim.
