Indian Govt. ‘Rs.500 crore Bail out Package’ for Maharashtra Land Dev. Bank

NAGPUR: August 6, 2010

Lastly crisis driven Maharashtra Land Dev. Bank which is in media focus due it’s forcible debt recovery earlier by attempting to auction the land of farmers and then by different style of Gandhigiri by beating drum before the house of short listed willful defaulters ,has been assured by the Indian Finance Minister Pranab Mukharji of Indian Govt.’s ‘Rs.500 crore Bail out Package’ for Maharashtra Land Dev. Bank when Maharashtra Co-Operation and Marketing Minister Harshvardhan Patil met him and asked for the same as LDB bank defaulters were left out in earlier Rs.71,000 crore mega farm loan waiver ,as per official report of delegates who visited New Delhi today.

LD Banks west vidarbha districts cotton farmers are set to loose the land mortgaged to get Agri. Loan as per recent NABARD policies the district units are facing the financial crisis and for regular staff payments they are forced to recovery debt by auctioning belonging of dying farmers and Maharashtra failed to give any respite to the drought hit vidarbha farmer even the government has decided to defer strong action against defaulters by giving them eight more months to repay the dues .

‘We welcome central Govt. decision to bailout the dying Land Dev. Bank which was liquated 1997 but money should be utilized for west vidarbha as earlier too should crisis driven LDB banks of west vidarbha is till awaiting Rs.446 crore of loan waiver amount paid to apex bank in march 2009 by NABARD moreover STATE Govt. failed to pay interest waiver 70% amount has not been paid already received in 2006 from central Govt. It’s apathy of Maharashtra Govt. that diverted the money to western Maharashtra and allowed these banks in vidrabh is become ‘bankrupt’ as even the OTS scheme which was announced by the state government in September 2007 for around 1.25 lakh members of the LDB and its branches, could not take off in west vidarbha and cotton farmers were kept out of OTS net ’Tiwari alleged.

Earlier issue of LD bank recovery turned vulgar when Cooperative Secretary Sudhir Goyal and administrator of LDB Subhash Mane has overpowered the Co-Operation and Marketing Minister Harshvardhan Patil by issuing fresh order of forcible recovery in different style of Gandhigiri by beating drum before the house of short listed willful defaulters which was totally contradictory to the announcement of co-operation and marketing minister Harshvardhan Patil in Mumbai on Thursday that The one-time settlement (OTS) will now be available till March 31, 2011.

‘VJAS drawn attention of central Govt. toward the serious issue of the unpaid salary of around 550 LDB employees of vidarbha sine December 2009 has been interlinked with forcible recovery of outstanding due of debt trapped farmers and we demand complete loan waiver and permanent settlement of interlinked staff salary issue with farm debt crisis ’ Tiwari said .

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