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Physical verification of non-farm loans

JAIPUR: The Rajasthan Government’s Cooperative Department has decided to carry out physical verification of non-agricultural loans disbursed by the cooperative banks to ensure transparency in the work.

State Principal Cooperative Secretary R. K. Meena said here on Monday that officers of different ranks would verify the status of loans of different amounts which were yet to be repaid by the beneficiaries. The Joint Registrars of Cooperative Department will verify at least 10 per cent of these cases.

Mr. Meena said the checklists of loans in the non-farm segment, such as personal loans and housing loans, were being sent to the officers concerned.

The verification work would start without delay, he added.

The disbursement of loans, current status of repayment and non-performing assets of cooperative banks will be reviewed during the verification to ensure financial discipline in the banks. The exercise, Mr. Meena added, would also lead to accountability of the bank staff.

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