Banks embezzle amount from incentive program

Aurangabad:

Farmers suffered huge losses due to drought and heavy rains from the years 2017 to 2019. The government introduced the incentive scheme, Mahatma Jyotirao Phule Shetkari Karjmukti Yojana (MJPSKY), to assist farmers. However, there have been complaints that banks are diverting proceeds from the incentive scheme to farmers’ loan accounts.

Realizing that the farmers are being deprived of the benefits, Collector Astik Kumar Pandey ordered the banks to immediately provide the scheme benefits to the farmers. According to the scheme, farmers who regularly repay two years of loans taken during the financial years 2017, 2018, 2019 will benefit from this scheme. Eligible farmers will receive a maximum benefit of Rs 50,000, for the loan taken in the past years. The principal amount of the loan for this year is taken into account. The first list of 10,611 program members was posted on the portal on October 13. Most farmers have completed Aadhaar authentication. Instructing the banks, Collector Pandey said all national, private and rural banks in the district should immediately deposit the incentive amount into the farmers’ savings account.

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