Munde accuses Beed bank of sitting on money meant for farmers

Leader of opposition in Maharashtra Legislative Council Dhananjay Munde today alleged that the Beed District Cooperative Central (BDCC) Bank deposited crop insurance amount of Rs 251 crore, meant for 4.89 lakh farmers in the district, with private banks instead of disbursing it

Mumbai: Leader of opposition in Maharashtra Legislative Council Dhananjay Munde today alleged that the Beed District Cooperative Central (BDCC) Bank deposited crop insurance amount of Rs 251 crore, meant for 4.89 lakh farmers in the district, with private banks instead of disbursing it.

The BDCC Bank is controlled by Munde's estranged cousin and state rural development minister Pankaja Munde, a BJP leader. In a statement here, Dhananjay, a NCP leader said without naming anybody that those controlling the BDCC Bank were behaving like "private money-lenders". The bank, instead of releasing the amount to the farmers, chose to deposit it with private banks, he said.

The money was deposited as FDs in Axis Bank, Maharashtra State Cooperative Bank and HDFC Bank, he said. This had been confirmed by divisional sub-registrar, Latur, he said, adding that the bank was earning interest on the money that was supposed to be disbursed to the distressed farmers.

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