Yet again a cooperative scam has broken in Maharashtra. There are allegations that some cooperative societies falling in the jurisdiction of the District central cooperative bank of Gondia have given loans worth rupees half a million to some of their members on the basis of 7/12 land extracts of one single village.
The transactions being in violation of norms have fueled a strong demand for an immediate probe against the cooperative societies.
It bears recall that the Gondia central cooperative bank funnels the govt. financial assistance to member farmers through seva sahakari societies. A thorough verification of members’ property is required to be done before the payment of loans is made to the member farmers.
One of the directors of the Gondia bank has levelled an accusation that the disbursement of loans is seriously wanting in proper verification and those favoured have taken loans from several cooperative societies.
Word is that the bank has urged the authorities concerned to take necessary action in the matter.