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Home Misc.

Co-op loan: CAG indicts NABARD

Ajay Jha by Ajay Jha
October 23, 2013
in Misc.
164
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There are allegations that Nabard has bungled the disbursement of crop loans to farmers in Maharashtra under agriculture relief and debt waiver scheme in 2008. Nabard has come in for criticism in the CAG report recently tabled in parliament.

Farmers’ union Shetkari Sanghatana has held protest meetings outside the office of Nabard in Pune against a backdrop of this controversy. The farmers’ union has charged that a large number of deserving farmers have been denied loans under the scheme.

On the contrary, as per the CAG report, many farmers not eligible for debt waiver or debt relief have received assistance under the scheme.

The central govt. had provided Nabard with funds for the scheme and Nabard, in turn , had the funds distributed to farmers through DDC banks and PACs. The scheme involved a total amount of Rs. 50 thousand crore.

The Bombay High Court has given relief to a farmer in Kolhapur who had a complaint about being treated in an unfair way.

Meanwhile, Nabard has begun monitoring the re-verification process being undertaken by district cooperative banks and other banks in about 33 districts in Maharashtra. .

Tags: CAGCo-op loanindictsnabard
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