Grant loans to borrowers who have repaid their earlier loan: DC to NDCC Bank

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NASHIK: District Collector Radhakrishnan B has issued a stern warning to the district bank (Nashik District Central Co-op Bank Ltd) on the issue of re-disbursement of loans to the borrowers. “Grant fresh loans to borrowers who have already cleared their outstanding dues. Failing to defy orders may invite legal action against the Bank,” warned the district collector.

“Many of the farmers have the capacity to repay the loan amount. However, fearing non-approval of further loans, they hesitate to apply for the same. Hence, we have instructed the district bank to approve loan proposals of the borrowers who have cleared their earlier dues,” he said.

“The fund will be diverted elsewhere if the borrower intimates and assures the bank that he is in no need of a loan. However, the bank will have to give priority to those farmers who have cleared their earlier dues. A criminal case will be filed against the bank, if it fails to obey these instructions,” he reiterated.

In the district, currently, as many as 22,654 farmers have paid back their loans, while a whopping 2,17, 630 farmers are still on the defaulters’ list.

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