Bank officials refusing Mudra loans to beneficiaries

He has submitted a memorandum to the chief general managers of various banks in this connection.

In the memorandum, he alleged that any body reaching office with a view to taking benefit of government schemes is misled by the bank authorities.

While expressing ire over the state of affairs in the release of Mudra loans, he said he has also lodged a complaint with the chief general managers and urged them to look into the matter seriously.

In many cases, officials of various public sector banks through which government schemes are run refuse to entertain the people on the ground that their target has been achieved.

Rakesh Gandhi further said that he has received many complaints in this regard. He also alleged that many bank officials under the garb of giving loans extract five to ten per cent commission from the beneficiaries.

In stout defiance of the rules, in many banks applications for various government schemes are run offline while some other banks are insisting on online applications. This has put the traders in a double whammy, Rakesh Gandhi informed.