Loan seekers briefly close banks
Source: The Sangai Express
Churachandpur, March 30 2015 :
Annoyed that many of the PMEGP beneficiaries selected by the Government a couple of years ago are still denied loans by private banks, the Beneficiaries Union today briefly shut down three banks in protest, our correspondent reports.
Members of the 2013-14 PMEGP Beneficiaries Union, briefly closed down three banks - ICICI bank, HDFC bank and Axis bank, around noon today after they took their protest inside the bank premises.
The union have been alleging that 80 percent of the beneficiaries selected by the Government have been rejected by the banks, and even for the few that are accepted, the cash granted at their disposal in the first instalment barely crosses Rs 3000, which according to the union, is far too less to serve the very purpose of seeking loans.
Officials from the bank attributed the reason behind the rejection to the failure of previous beneficiaries to repay their loans.