Agri bank fails to recover loan from its employees, politicians

Archit Watts
Tribune News Service
Muktsar, February 5

Recovery of loan from farmers, especially from own employees and politicians has proved an arduous task for Punjab State Cooperative Agricultural Development Bank (PADB). At present, the bank has to recover Rs 137.6 crore in Muktsar district and Rs 221.5 crore in Fazilka district, respectively.

Sources in the PADB said some former employees, including a senior rank officer, owe above Rs 1 crore each. Similarly, Balkaran Brar, chairman, Punjab State Cooperative Agricultural Development Bank, Malout, and his family members owe around Rs 1.5 crore to the bank. The Assistant Registrar of the bank has even issued warrants against Brar.

Senior Shiromani Akali Dal leader Dyal Singh Kolianwali, who is currently in judicial custody related to a disproportionate assets case, has not cleared loan. Kolianwali’s family had given post dated cheques of Rs 33 lakh to be encashed on December 31. However, the cheques bounced and the bank served a notice in this regard. Notably, Kolianwali’s family owed about Rs 95 lakh to the bank, but he cleared some of the loan.

Ranjit Singh, Assistant General Manager (AGM), PADB, Muktsar, said, “The bank has started process to recover loan from all the defaulters. Some of them have been served with notices. Warrants have also been issued against some deafulters.”