The Hindu : Karnataka News : ICICI Bank accused of luring farmers

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Sunday, Dec 23, 2007
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Karnataka

Karnataka

ICICI Bank accused of luring farmers

Staff Correspondent

Raitha sangha has convened a State-level conference on December 29

DAVANGERE: The Karnataka Rajya Raitha Sangha has convened a State-level conference here on December 29, to decide whether or not to organise an agitation against the ICICI Bank all over the State till it “closes all its branches in the State or to allow the bank to continue to function on certain conditions, including that farmers and the poor should not be harassed for the repayment of loans”.

Talking to presspersons here on Saturday, president of the sangha Kodihalli Chandrashekar alleged that the ICICI Bank lured the farmers by offering them quick loan facility to buy tractors through its agents.

He said that the bank had an “understanding” with the tractor companies and hence they “force” the farmers to get into the loan trap. The bank agents used all kinds of tactics to lure the farmers as they did in the Chamrajnagar and Nanjangud incidents.

Tedious procedures

To a question he said that nationalised banks and primary land development banks were lending to farmers but they had lengthy and tedious procedures.

They also made farmers run from pillar to post for getting the loans sanctioned. He demanded that the Government instruct such banks to simplify the procedures. The sangha had written to the Governor appealing to him to restrict the “exploitation” of farmers.

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