Top RBI officers involved in Farm Loan Waiver Scam

Top RBI officers involved in Farm Loan Waiver Scam 

Nagpur -6^th march 2013

When Indian parliament adjourned over the issue CAG report pointing holes in Rs.70,000 mega farm loan scam ,unfold covers revealed that, it was deep routed conspiracy with very active involvement top RBI and Nabard  officials who allowed loan waiver scheme for long term loan even to commercials loan  of not only district cooperative banks but urban and private banks which are not concerned with short term crop loan  or not allowed by RBI for agriculture credit in the year 2006 and Maharashtra has topped in such irregularities thanks to union agriculture Minister NCP party who control the most district central cooperative bank including apex Maharashtra state coop. bank  and RSS-BJP who is controlling urban banks in eastern region Maharashtra and illegal loan waiver amount is more than Rs.4000 crore in Maharashtra alone  even CAG has ben kept in the dark by RBI-Nabard officials over illegal nod given by them even after so honest officer objected unfair fraudulent activities hence high level inquiry looking to criminal conspiracy is must, Kishor Tiwari of Vidarbha Janandolan Samiti (VJAS)  informed in press release today.

 “We are ready to give fresh list of illegal beneficiaries associated as directors to the corporative and urban even some big industrialist converted long term regular commercial loan as short term agriculture debt and applied for loan waiver and RBI-Nabard regional offices at Pune and Nagpur allowed such malpractices by taking huge bribe even CAG officers covered such malpractices reason well-known to them hence CAG report  is tip of iceberg ,real truth will be known people only after FIR and CBI inquiry’ activist repeated.

Earlier The CAG on 5^th march   tabled in Parliament the report on UPA's farm loan waiver scheme which has exposed massive fraud and thrown light on truth that CAG  found irregularity in the scheme, according to report Indian parliament was informed that CAG had conducted audit of accounts of about 90,000 farmers between April 2011 and March 2012 and CAG found lapses in over 22% of cases and  CAG has said in the report that bank officials siphoned off loan waiver money by giving loan waiver benefit around 10% accounts were found ineligible and majority of loan waiver amount was given in these ineligible so called farmers and over 34% farmers were not issued debt waiver certificate and were failed to get fresh credit from intuitional credit ,is piece of iceberg as CAG report is based on less that 1% farmers hence there is urgent need to have commission of inquiry of the Rs.57,000 crore farm loan waiver fraud ,

‘The farm loan waiver demand was came before the Indian law makers in 2006 as distressed dry land farmers who were debt trapped committing suicides due mounting debt and forceful recoveries  of private moneylenders  but we were shocked when Rs.71,000 crore mega loan waiver was announced at national level with restrictions of  2 hectors of land holding which kept most of dying vidarbha farmers out of farm loan waiver net  in 2008 hence in 2010 Maharashtra announced extended farm loan waiver of Rs.11,000 crore to cover distressed farmers but even after fresh crop loan was not  made available to vidarbha farmers but banker claimed that they disbursed more than Rs.20,000 crore in farm loan waiver scheme now CAG has exposed truth that Bankers selected   ineligible and major portion of  farm loan waiver siphoned off between bank officials ,politicians and so called distressed farmers which is serious criminal offence and needs prosecution  hence we are pressing for national commission of  enquiry’ Tiwari  urged.

Today’s CAG report has once again raised the issue of Indian budget that has ignored plights of drought ridden and suicide prone distressed and debt trapped farmers even after CAG has exposed the truth that earlier  mega loan of 2008 has not reached the farmers hence it was expected that UPA-2 last budget before general election will addressed the issue farm debt, poor MSP and diversion to sustainable from so called second green revolution hence 5 million farmers are too much disappointed and want special bailout package  to save dying farming community who are innocent victim of  wrong technology and climate change, Tiwari added.