Andhra Pradesh

DCCB to probe loans taken on benami names

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A thorough screening of crop loans by Prakasam district administration ahead of the implementation of loan waiver has brought to light that some ryots had taken loans under benami names.

According to complaints, around 70 to 80 farmers had reportedly availed crop loans worth Rs. 2 crore on benami names at Yerragondapalem in western Prakasam in the past, Prakasam District Central Cooperative Bank (PDCCB) Chairman Edara Mohan Babu told The Hindu. The Bank would conduct a thorough audit to unearth the misappropriation of funds at the grassroots level and bring all the culprits to book. “Farmers, after obtaining loans on benami names, often go scot-free when there are no complaints. Such farmers avail of crop loans either in the name of their relatives or friends very much with their knowledge,” bank sources said.

No complaints had been received so far by police in this connection, Special Branch DSP Rayapati Srinivas said, adding that only a CB-CID probe could unearth the misappropriation of funds.

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Printable version | Jan 26, 2020 7:25:13 AM | https://www.thehindu.com/news/national/andhra-pradesh/dccb-to-probe-loans-taken-on-benami-names/article6691262.ece

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