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news details
Irregularities in disbursement of loans surface at EDB Anantnag
Bank officers under scanner
2/17/2017 12:22:55 AM
Saahil Suhail

Early Times Report

ANANTNAG, Feb 16: Large-scale irregularities in disbursement of loans under the Kissan Credit Card scheme have surfaced in Eliaquai Dehati Bank which has released a whopping amount of rupees 100cr in Anantnag district against Rs. 1.58Cr.
Highly placed sources told Early Times that Bank is under the surveillance of Reserve Bank of India (RBI) for the alleged irregularities that have surfaced during an internal inquiry.
"Total allocation to the Ellaquai Dehati Bank for agriculture financing including Kissan Credit Card in Ananatnag district during year 2015-16 was 21.84Cr and outlay for the bank under KCC was 1.58Cr but the bank disbursed a whopping amount of Rupees 100 Cr in Anantnag district alone," sources revealed.
They said that massive irregularities have been committed by the authorities including branch managers in release of KCC loans. "The Ellaquai Dehati Bank authorities have released the money without analyzing the Demand Credit Balance," sources alleged.
The massive irregularities in disbursing the KCC loans can be gauged from the fact that a group of people from Y K Pora Qazigund had filed an application at Police Station Qazigund alleging that EDB had sanctioned loans and withdrawn money from their accounts without informing them. "They (applicants) actually had applied for KCC loans but Bank authorities had then conveyed them that their cases haven't been cleared but later they (applicants) came to know the loans had been sanctioned and money had been withdrawn from their accounts," a police official said.
He said that these people approached police after they were asked to repay the loans that they hadn't availed.
"On the written complaint, Police has registered an FIR (12/2016) under relevant sections at Police Station Qazigund and investigation is going on" he revealed.
Sources claimed that authorities seemed to have sanctioned loans without fallowing the laid guidelines and procedure. "Loans were released for non-agricultural purpose. Besides, necessary procedures were not followed while clearing loans," they said.
An insider claimed that bank managers have considered fake loan clearance certificates and land holding records and haven't verified the documents provided to them by the consumers. "A Bank official is bound to visit and see himself the land which a consumer claims to own," he said, adding loans seem to have been sanctioned on fake land holding records.
Highly placed sources alleged that top officials of the bank are involved in the fraud and are under scanner.
"As per the Reserve Bank of India (RBI) guidelines, this bank fraud of more than Rs 100 crore should be handed over to the Central Bureau of Investigation (CBI)," official whishing anonymity said.
However the top officials of Ellaquai Dehati Bank including chairman and Regional Manger South Kashmir refused to comment over the issue.
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