On probe into frauds in farm loan waivers
We had asked banks to review each of the 3.4 crore cases where loan waiver were granted after the CAG detected irregularities in a sample study. Banks discovered few cases where benefits were denied to deserving and few cases where benefits were given to wrong people. In all the cases where benefits were given to the wrong people, banks have been asked to initiate recovery proceedings and all officers\employees who sanctioned improper cases should be issued show-cause notice. Also as each case was pre-audited by a chartered accountant, banks have been told to issue notices to CAs who have wrongly certified cases and refer them to the ICAI.
Regards
Prarthana Jalan
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