In Gadwal, farmer customers are being exploited by brokers charging high-interest rates. Macherla Prakash, the District President of the All India Ambedkar Yuvajana Sangam and a member of the SC, ST Vigilance and Monitoring Committee, submitted a petition to the branch manager of the Union Bank of India about this issue. Yarsan Doddi Jayaraju, a young leader of the Congress party, pointed out that these brokers are working within the Union Bank of India in Macherla.
Prakash highlighted how brokers at the Union Bank of India in Macherla are causing significant losses to farmers during the crop loan renewal process. The brokers, with inside information about the farmers’ loan renewal dates, are tricking farmers into paying high-interest rates. They are taking advantage of farmers’ vulnerability by operating within the bank itself.
The petition also addressed the difficulties faced by farmers accessing bank services due to the involvement of brokers. Premiums deducted from insurance accounts were not being properly provided to people, and crop loan application forms were not easily accessible. Prakash requested that bank application forms and voucher forms be given directly by bank officials to ensure transparency and prevent exploitation.
Congress party youth leader Jayaraju and others supported Prakash’s initiative, stressing the importance of taking immediate action to protect farmers and promote fair banking practices.
