The local election office has served a notice to the Amreli District Central Bank in connection with an alleged breach of code of conduct. Senior BJP leader and Amreli MLA Dilip Sanghani is the chairman of the bank.
The bank,which has farmers and diamond workers as its main clientele base,has been accused of announcing an interest rate cut on Saturday,when the code of conduct is already in place.
Amreli district nodal officer B Patel,who had gone to the place where the meeting was held to pass the resolution for the rate cute,has now served a notice to the bank. The notice says that if bank has made an announcement that can lure voters,action will be taken against the authorities.
Incidentally,the local election office is yet to get hold of the documents announcing the rate cut.
According to reports,a team from the collectors office was not allowed inside the meeting hall by the bank authorities where the resolution number 42(1) was passed.
The resolution suggested providing loans to agriculture related groups at 5 per cent interest instead of 6 per cent.
These agriculture groups could then pass on loans
to farmers at 0.5 per cent less interest. In effect,
farmers will not now get loans at 6.5 per cent interest instead of the prevailing 7 per cent.
That bank has also announced that the new interest rates will be applicable to those farmers groups which had availed the loans even a year earlier.
Sources in the collectors office said that its team,which was passed on the information that such a resolution is likely to get cleared,got into a heated exchange with the authorities,including Sanghani,who did not allow them entry.
Sanghani has said the resolution was formulated two months ago.
We have not done anything wrong. A proper reply will be given, he said.