Farmers in Venkataraopet unearth scam by bank employees

Farmers allege that the plan was hatched by some bank officials and brokers who were working hand in glove.

Published: 08th January 2022 09:27 AM  |   Last Updated: 08th January 2022 09:27 AM   |  A+A-

Scam

For representational purposes (Express Illustrations)

By Express News Service

SIDDIPET: Farmers belonging to Venkataraopet village have unearthed fraudulent activities that were being carried out by the employees of the Union Bank of India’s (UBI) Siddipet district headquarters branch. According to Venkataraopet ryots, several bank staffers created bogus documents in their name and took loans from the branch, leaving them with the burden of repaying these loans. Farmers allege the accused scammed scores of persons to the tune of about `2 crores.

Farmers allege that the plan was hatched by some bank officials and brokers who were working hand in glove. According to police and farmers, soon after a new manager took over the branch, the bank started issuing notices to Venkataraopet ryots, demanding the repayment of loans that they allegedly took from UBI. As per official documents, the bank has not been receiving monthly instalments from about 80 farmers since 2017.

As a result, the bank served notices on all these ryots, informing them that the officials would adopt loan recovery measures soon. The bank also suspended Rythu Bandhu and Aasara benefits to these farmers over default. When the concerned farmers approached the authorities stating that they haven’t taken any loans, the officials showed them the applications and other documents carrying the signatures of all of them. Noticing this, the ryots smelt forgery and lodged a complaint with the Siddipet (Rural) police. 



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp