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Farmers allege fleecing by APGVB staff

Farmers allege fleecing by APGVB staff
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Farmers allege fleecing by APGVB staff.Managers and staff of the Andhra Pradesh Grameena Vikas Bank (APGVB), an SBI-sponsored institution, are allegedly trying to bully farmers into subscribing to the SBI Life Insurance policy in the district when the farmers come for loan-waiver scheme.

Srikakulam: Managers and staff of the Andhra Pradesh Grameena Vikas Bank (APGVB), an SBI-sponsored institution, are allegedly trying to bully farmers into subscribing to the SBI Life Insurance policy in the district when the farmers come for loan-waiver scheme. The bank staff of various branches is putting pressure on the farmers by refusing to pass on the benefits of the loan waiver scheme unless they subscribe to the Life Insurance policy.

As the grameena bank is controlled by the SBI, the mangers of various branches at Nandigama and Dharmavaram in the district are exerting pressure on the farmers. The managers are reportedly telling the farmers bluntly that the benefits accruing from loan waiver cannot be transferred to them unless the latter follow their diktat.

A farmer, who has secured loan waiver of Rs 30,000 under the scheme, has been asked to pay Rs 15, 000 towards premium for the SBI Life insurance to get the benefit. If the farmers refuse to pay, bank officials are reportedly raising objections and thus coming in the way of the efforts of farmers in securing benefits of the loan waiver scheme.

Pressure is reportedly being exerted on the farmers by the officials as the latter are allegedly rewarded by the bank with Rs 2,000 reward in the name of commission/incentive. The APGVB Nandigama branch manager reportedly collected a premium for SBI Life from 500 farmers. The APGVB Dharmavaram branch manager in Etcherla mandal, who is due to retire shortly, is allegedly exerting pressure on the farmers to subscribe to the insurance policy.

Unable be bear the harassment, the farmers staged a protest recently at the bank.“APGVB is our sponsored bank and its employees are our authorised agents. They are motivating their customers to subscribe to the SBI Life Insurance policy,” said SBI Regional Manager D Raja Rama Mohan Rao. APGVB chairman V NarsiReddy, however, said, “We will conduct an inquiry and take action.”

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