Microfinance scam


Chennithala shielding Natesan: VS

Leader of the Opposition V.S. Achuthanandan on Wednesday accused Home Minister Ramesh Chennithala of shielding Sree Narayana Dharma Paripalana (SNDP) Yogam general secretary Vellappally Natesan in the microfinance scam case.

In an open letter, he chastised the Minister for not pursuing the three cases registered against the SNDP leadership on the charge of defrauding beneficiaries of the loan scheme in different regions in the State in the past two years.

The Vigilance and Anti-Corruption Bureau (VACB) had also pointed out that the SNDP had availed itself of huge loans from the State and other national agencies at a low interest rate (2 per cent). It then lent the money to poor members of the Ezhava community at a higher rate (12 per cent). The SNDP leadership defaulted in repaying the loans and kept the mortgage payments made by the poor beneficiaries for themselves. Mr. Achuthanandan said the Home Minister had written to him that he had referred the matter to the Secretary, Home. But nothing seemed to have happened after that.

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Printable version | Jan 27, 2020 3:16:23 PM |

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