Monday, March 29, 2010

Kerala govt wants probe into NABARD function

TPURAM: Kerala Co-operation Minister G Sudhakaran Monday asked the Centre to order a probe into the functioning of National Agriculture Bank for Rural Development (NABARD) in the state, accusing it of being anti-farmer and anti-cooperative banks.

The attitude of NABARD in the state was anti-farmer and against the interest of co-operative banks, he said replying to a notice for an adjournment motion in the Assembly.

The Congress led UDF opposition sought to move the motion on the alleged irregularities in sanctioning of loans to the tune of Rs.127 crore to private trusts by State co-operative Bank violating NABARD guidelines.

K C Joseph (Cong) said State Co-operative Bank passed the loans for the institutions in a hurry violating rules. NABARD had raised objections to the loans sanctioned by the Bank. The co-operative sector in the state had to face NABARDS punitive action which would put it in crisis, Joseph said.

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