Our farmers are dying, Our Neros are fiddling! (See The Hindu, April 24. 2011)
Minister Chidambaram's agricultural loan waiver—the the AG blunder amounting to a whopping Rs. 6,000 crores is not without black holes. Though much lauded by capitalist estate owners, the poor has not relatively benefitted compared to them. Business people with close links with the banks could get an agricultural loan using their landed properties for business purposes.
Take the case of the Indian Overseas Bank Limited, Vetturnimadam, Kanyakumari Dist., Nagercoil 3, Tamil Nadu, which has granted it favoured customer Dr. S. M. Bejan Singh, an Optical Surgeon, amounting to over 11 lakhs as agriculture loan. This loan exceeds the total of all the rest of the agriculture loans granted by the Bank. Dr. Bejan Singh is not a farmer but he has vacant lands in which he put up buildings using yhe loan. Dr. S. M. Singh also availed agricultural loans from the Syndicate Bank, W.C.C, Road, Nagercoil 1, by pledging the same property.
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