Loan recovery: Bank’s red flags on ryot’s land

Recently, the bank issued a notice for the ninth time. Subsequently, the farmer sold the land to another person, which is against bank rules.
District Cooperative Bank officials hoist red flags on agricultural land owned by farmer Banda Rajasekhar Reddy in Polkampet village at Kamareddy on Friday
District Cooperative Bank officials hoist red flags on agricultural land owned by farmer Banda Rajasekhar Reddy in Polkampet village at Kamareddy on FridayPhoto | Express

KAMAREDDY: In an unusual move, officials from the District Cooperative Bank Lingampet Branch hoisted red flags on agricultural land owned by farmer Banda Rajasekhar Reddy in Polkampet village, sparking widespread criticism from farmers and Opposition leaders.

According to District Cooperative Bank Lingampet Branch Manger G Kumara Swami, Rajsekhar had taken a loan of Rs 11.65 lakh in 2010 to purchase a tractor, mortgaging his seven acres of land spread across three survey numbers in Polkampet village. Despite multiple notices, he failed to respond. Recently, the bank issued a notice for the ninth time. Subsequently, the farmer sold the land to another person, which is against bank rules.

In this backdrop, the bank officials filed a petition with the Cooperative Register, who directed them to proceed with the auction of the land on June 20. Following these instructions, the bank officials hoisted red flags and displayed banners on the land, stating they were acting on higher officials’ directives.

Meanwhile, under the leadership of former Yellareddy MLA J Surendar, a group of people gathered at the District Cooperative Bank on Friday to protest against the arrangement of red flags for the land auction.

They accused the bank officials of disrespecting the sentiments of farmers and demanded the immediate removal of red flags. Surendar stated that this method of recovering loans was unacceptable and demanded the bank officials provide documentation justifying the hoisting of red flags on the farmer’s land.

He raised concerns about the consequences for farmers, including the possibility of suicides due to financial distress, and warned that if the red flags were not removed promptly, they would take serious action.

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