Maharashtra asks banks no longer to divert PM-Kisan money to farmers’ loan debts

Noticing that some banks had diverted the first installment of the Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) scheme to farmers’ loan debts, the Maharashtra authorities have told banks to return the money to farmers. Speaking to BusinessLine, Maharashtra’s Commissioner of Agriculture, Suhas Diwase, said that banks that had diverted the PM-Kisan installment to farmers’ mortgage bills had reversed the transactions after the government’s commands: “There are strict instructions from the government regarding this. We have advised banks, and around has been issued. Banks that had diverted money to loan debts have lower back it to farmers.”

Bharat Barve, Assistant General Manager with Bank of Maharashtra, speakme to BusinessLine, said, “The government has made it very clear that farmers must get the first installment of PM-Kisan scheme in fingers. But the entire banking system is online, and if the farmer’s saving account has a court or earnings-tax attachment or if it’s far NPA, the deposited money goes to the loan account via the system, which features routinely.

So there’s a scenario a few banks would possibly face wherein the government has requested to give money to farmers, but the device has diverted cash to the mortgage account.” Barve introduced, “But nowhere financial institution managers are telling farmers that they can not get PM-Kisan cash. All banks need to issued circulars to branches based on the PM-Kisan scheme. Each bank has a distinctive software program with exceptional command structures, and banks are equipped with remedial sources to override the gadget and pay cash to farmers”. He stated that banks are bypassing the system so that farmers get cash in arms. Keda Tanaji Aher, Chairman of Nashik District Central Cooperative Bank Ltd, said, “Almost all nationalized banks are going through this trouble. The authorities have not worried about cooperative banks in this method”.

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Credit & Debit

BusinessLine had pronounced on Wednesday that three days after Prime Minister Narendra Modi released the PM-Kisan scheme, transferring the primary installment of ₹2,000 to over one crore beneficiaries, many farmers in Maharashtra complained that the quantity had been debited from their account quickly after it was deposited. Diese explained that a few banks have a vehicle mode device in the area wherein the money deposited into a farmer’s account goes immediately to their mortgage account and is adjusted in opposition to the farmer’s dues. Hence, many farmers couldn’t get their first installment. “This will now not be repeated,” Diwase asserted.

He said that complaints of farmers whose cash become debited from their bills are being addressed. “This has happened inadvertently in 3 districts — Nanded, Parbhani, and Nashik — because of technical problems at the same time as importing the primary records. We also are checking why cash becomes debited from accounts where there have been no technical troubles. Today, we have filtered all the records, and eligible farmers get their installments,” he stated. Diese added that the goof-up changed into a technical glitch, and there was no human interference.

However, confusion prevails among a few farmers. Balasaheb Mande, a farmer from Madhe Wadgaon village in Ahmednagar district, stated, “Nobody is telling us what has happened to our cash. We had gone to the bank to are seeking statistics. However, bank officials are announcing that the authorities have withdrawn our cash. No farmer in my village has were given any amount,” he stated. A banker with one of the nationalized banks soliciting anonymity said that everyone eligible farmers will get their cash as things are being ‘looked after out’. But Diwase emphasized that the matter has been taken care of out. “All eligible farmers get their installments without any delay.”

Kim James

Passionate student. Thinker. Incurable web geek. Beer evangelist. Proud organizer. Music scholar. Friendly reader. Tv specialist. Gifted in selling Slinkies in Deltona, FL. Uniquely-equipped for promoting UFOs in the aftermarket. Spent several months getting my feet wet with rocking horses in Africa. Once had a dream of supervising the production of soap scum for the government. What gets me going now is supervising the production of junk bonds in Phoenix, AZ. In 2009 I was donating tinker toys in the financial sector.

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