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Govt finds fault with banks as 500 crore unspent
State Government has found fault with bankers for not implementing Farmers’ Loan Waiver scheme in true spirit. As a result, nearly Rs 500 crore funds meant for loan waiver scheme remain unutilised. In some cases, farmers were deprived of the benefit under the loan waiver scheme.
Hyderabad: State Government has found fault with bankers for not implementing Farmers’ Loan Waiver scheme in true spirit. As a result, nearly Rs 500 crore funds meant for loan waiver scheme remain unutilised. In some cases, farmers were deprived of the benefit under the loan waiver scheme.
At the PAC (Public Accounts Committee) meeting on loan waiver scheme held here on Monday, the State Finance department brought to light the failure of the banks in disbursing the loan waiver funds to the beneficiaries.
The meeting was presided over by PAC Chairman J Geeta Reddy who took stock of the implementation of farmers welfare schemes launched by Chief Minister K Chandrashekar Rao’s government. Top officials of the State Finance department told The Hans India that the department took serious note of the scheduled banks on their failure to transfer the funds into the farmers (beneficiaries) accounts. The banks did not release Rs 150 crore claims made by the farming community in the accounts of the beneficiaries.
In another case, the banks calculated wrong in the interest payments on the loans taken by farmers. As a result, Rs 200 crore loan amount was still not cleared.
The department also brought to the notice of the committee that Rs 100 crore loan taken by farmers in the drought affected districts was converted into long term loans. Officials said that lack of coordination between the lead bank and other scheduled banks at gross root level put many hurdles in the implementation.
As promised in the election manifesto, the TRS government waived Rs 17,000 crore crops loans of 35.3 lakh farmers. Rs 4,250 crore each were allocated in four financial years since 2014-15. Though the government released funds in time every six months in every financial year, banks delayed in waiving the loans taken up to Rs one lakh by the farming community.
As a result, farmers were deprived of availing fresh farm loans during agricultural seasons. Taking cue from the points raised by the Finance Department in the meeting , the PAC members including ruling party MLAs and MLCs raised strong objections on the banks’ indifferent attitude towards addressing the farmers issues, mainly loan waiver and disbursement of fresh loans.
