Save farmers from brokers in banking... District president of all India Ambedkar Yuvajana Sangham

Gadwal: Farmer customers should be protected from high-interest exploitation by brokers. Macherla Prakash, the District President of the All India Ambedkar Yuvajana Sangam and a member of the SC, ST Vigilance and Monitoring Committee, submitted a petition to the branch manager of the Union Bank of India regarding this issue. Additionally, Yarsan doddi Jaya raju, a young leader of the Congress party, has highlighted that brokers involved in this exploitation are operating within Macherla's Union Bank of India.

Macharla Prakash, the District President of the All India Ambedkar Yuva Sangam and a member of the SC ST Vigilance Monitoring Committee, submitted a petition to the bank manager, highlighting the exploitation of farmers by brokers at the Union Bank of India in Macherla. The petition detailed how these brokers are causing significant losses to farmers, particularly during the crop loan renewal process. Innocent farmers are being cheated by being charged high-interest rates. Brokers, who have inside information about the farmers' loan renewal dates, are calling the farmers in advance and deceiving them. These brokers are reportedly operating within the bank itself, exploiting the farmers' vulnerability.

Macharla Prakash, the District President of the All India Ambedkar Yuva Sangam and a member of the SC ST Vigilance Monitoring Committee, submitted a petition to the bank manager of Union Bank of India in Macherla. The petition highlighted that brokers, in collusion with bank officials, are deceiving innocent farmers. These brokers inform farmers about their crop loan renewal dates and then charge exorbitant interest rates. They demand two rupees interest and a month's interest for loans set to expire in just four days. Additionally, the brokers are earning significant amounts of money through these practices. Crop loan application forms that should be available at the bank are instead being placed in online centers located in front of the bank, further complicating the process for farmers.

Macharla Prakash, the District President of the All India Ambedkar Yuva Sangam and a member of the SC ST Vigilance Monitoring Committee, submitted a petition to the bank manager of Union Bank of India in Macherla, addressing several critical issues faced by farmers:

1.Exploitation by Brokers: Brokers, in collusion with bank officials, are deceiving farmers by informing them about their crop loan renewal dates and charging high-interest rates, including two rupees interest and a month's interest for loans expiring in four days.

2. Difficulties Accessing Bank Services: Farmers are facing difficulties in obtaining their bank statements and accessing loans directly due to the involvement of brokers.

3. Improper Handling of Insurance Premiums: Premiums deducted from insurance accounts are not being properly provided to the people.

4. Misplacement of Application Forms: Crop loan application forms and voucher forms are being placed in online centers instead of being provided directly by bank officials.

Prakash requested that bank application forms and voucher forms be given directly to the bank officials to ensure transparency and prevent exploitation. He also urged measures to prevent brokers from operating around the bank and called for awareness programs to educate farmer customers about these issues.

Congress party youth leader Jayaraju and others supported this initiative, emphasizing the need for immediate action to protect farmers and ensure fair banking practices.