Aim of bank nationalisation remains unfulfilled: RR Patil

GADCHIROLI: Pointing out that the late Prime Minister Indira Gandhi had nationalised banks with the intention of providing loans to the poor and the common people, Maharashtra Home Minister R R Patil said here today that this objective had not been realised due to the attitude of nationalised banks.

Addressing a co-operatives rally here this afternoon, Patil said that nationalised banks collect huge amounts of deposits from people, but when it comes to giving loans to the poor people, these banks never do so.

Loans are not disbursed in proportion to deposits of these banks and thus the objective of bank nationalisation remains unfulfilled because of such an attitude, he said.

Therefore, the people should deposit their money in their own societies and co-operative banks by spreading the network of these banks in their respective areas and strengthening them, Patil said.

He said that self help groups should be given interest free loans by applying a separate criterion for the backward district of Gadchiroli.

He also criticised the monopoly paddy purchase scheme saying that the paddy growing farmers are not given rates at par with private purchasers and payments too are not made on time, asking the district collector that to look into the matter.

He complimented the District Central Co-operative Bank for opening branches in remote areas and providing services to people even at the cost of its profit.