Banks diverting amount of incentive scheme

Aurangabad:

The farmers suffered huge losses due to drought and heavy rains in the years 2017 to 2019. The government introduced the incentive scheme, Mahatma Jyotirao Phule Shetkari Karjmukti Yojana (MJPSKY), to provide relief to the farmers. However, there have been complaints that banks are diverting the amount of the incentive scheme into loan accounts of farmers.

Realizing that the farmers are deprived of the benefits, collector Astik Kumar Pandey has issued orders to the banks to provide the benefits of the scheme to the farmers immediately. According to the scheme, farmers who regularly repay two years of loans taken in financial years 2017, 2018, 2019 will get the benefit of this scheme. Eligible farmers will get a maximum benefit of Rs 50,000, for the loan taken in the last years. The principal amount of the loan for that year is taken into account. The first list of 10,611 members of the scheme was published on the portal on October 13. Most of the farmers have completed Aadhaar authentication. Instructing the banks, collector Pandey said that all the national, private and rural banks of the district should immediately deposit the incentive amount in the savings account of the farmers.