Corruption in PM mudra yojna by PNB
Can the transparency intl or localcircles do a survey about shutting down PNB. Enough!!
The Central Bureau of Investigation (CBI) has registered a fresh case related to fraudulent loans issued under Prime Minister Narendra Modi's flagship Micro Units Development and Refinance Agency (Mudra) scheme. The fraud was reported in Punjab National Bank, which is in the midst of another scam worth Rs 114 billion.
A senior branch manager at PNB’s Barmer branch in Rajasthan “dishonestly and fraudulently sanctioned and disbursed 26 Mudra loans” between September 2016 and March 2017, causing a loss of Rs 6.2 million to the public sector bank, the CBI has alleged in a case filed on Wednesday.
The CBI has stepped up its vigil in the banking sector after an alleged Rs 114 billion-scam hit PNB related to the letter of undertakings having been fraudulently issued to a group of companies belonging to diamantaire Nirav Modi and his uncle Mehul Choksi.
In the latest case, PNB sanctioned Mudra loans “without conducting meaningful pre-inspection or physical verification of spot of business or residence and without ascertaining end use of the loan amount or creation of assets from the loan amount,” according to CBI.
The NDA government launched the Mudra scheme to give unsecured loans of up to Rs 1 million to small enterprises with the objective of boosting self-employment. Under Mudra, the rate of interest of the loans is relatively low compared to other loans and the borrower is not required to submit collateral to banks at the time of availing the loan facility.
However, after sanction or disbursement of loan, the borrower is required to create an asset using the money that acts as a security to the bank against the sanctioned loan. In this case, no assets were created out of the loans sanctioned under Mudra. more
The Central Bureau of Investigation (CBI) has registered a fresh case related to fraudulent loans issued under Prime Minister Narendra Modi's flagship Micro Units Development and Refinance Agency (Mudra) scheme. The fraud was reported in Punjab National Bank, which is in the midst of another scam worth Rs 114 billion.
A senior branch manager at PNB’s Barmer branch in Rajasthan “dishonestly and fraudulently sanctioned and disbursed 26 Mudra loans” between September 2016 and March 2017, causing a loss of Rs 6.2 million to the public sector bank, the CBI has alleged in a case filed on Wednesday.
The CBI has stepped up its vigil in the banking sector after an alleged Rs 114 billion-scam hit PNB related to the letter of undertakings having been fraudulently issued to a group of companies belonging to diamantaire Nirav Modi and his uncle Mehul Choksi.
In the latest case, PNB sanctioned Mudra loans “without conducting meaningful pre-inspection or physical verification of spot of business or residence and without ascertaining end use of the loan amount or creation of assets from the loan amount,” according to CBI.
The NDA government launched the Mudra scheme to give unsecured loans of up to Rs 1 million to small enterprises with the objective of boosting self-employment. Under Mudra, the rate of interest of the loans is relatively low compared to other loans and the borrower is not required to submit collateral to banks at the time of availing the loan facility.
However, after sanction or disbursement of loan, the borrower is required to create an asset using the money that acts as a security to the bank against the sanctioned loan. In this case, no assets were created out of the loans sanctioned under Mudra. more
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It is not Congress vrs BJP . It is common man vrs Party in power. The receiving end is always a common man. more
Mar 01
@R V K Babu, The stick has been given to us through CPA. We have to use it also as and when we have to claim for our buffallo. Stick cannot be used on its own. I had put up a petition to force Govt. of India to look into and check unfair business practices. Despite my consistent efforts just only 145 members have signed the petition out of 1225 members visiting the post. What stick can do if not used. more
Feb 27
People like prashant Bhushan also made several attempts to rein in corruption but they failed.Heis supreme court lawyer Ram Jethamalani eminent lawyer also put up a fight he also failed now who will listen to us more
Feb 28
I have tried a lot to get 5-10 Lakh loan as the maximum limit is 10 Lakh as per Modi. I an unable to get it from any bank, whereas these people got it in Crores ... Regards Raghu On Feb 25, 2018 9:18 AM, "Sudesh Rai" wrote: > more
Feb 27
Without paying bribe nothing moves in our country those who ar not ready to pay are left behind and left out. more
Feb 28
SHUT DOWN the PNB and capital punishment should be there who are accused else this kind of scams have become morning tea for all of us under this rhetorical govt which is only sucking the blood of middle class more
Feb 26
Mudra loan scams are indeed very disturbing news. Unless strict action is taken, including the political class, this is keep happening. more
Feb 26
