BEWARE OF THESE TOUT NAMED MR.RANJAN ROUT AND HIS CONCUBINE MRS, SWAGATIKA ROUT WHO ARE IN CONNIVANCE OF THE STAFF OF INDIAN BANK MICRO SAT BRANCH WHICH IS MEANT FOR FINANCIAL INCLUSION OF POOR ARE RESORTING TO FLUSHING OUT THE POOR AND TAX PAYERS MONEY INTO THE HANDS OF A FEW AFFLUENT AND VOCAL WOMEN WHO IN FICTITIOUS NAMES OF FAKE WOMEN MEMBERS, DRAWS FUNDS OF THEIR CHOICE FLOUTING ALL SORTS OF RBI as well as Internal Guidelines of the BANK. THESE TOUTS ACTS AS THE REPRESENTATIVES OF THE BANK MANAGER, TAKING DECISIONS ABOUT THE DISBURSAL, TO ANY TWO VOCAL WOMEN IN THE NAME OF 10 - 15 FICTITIOUS WOMEN MEMBERS WHO NORMALLY PRESENT ON PAPERS.
MR.RANJAN AND HIS CONCUBINE EXECUTE ALL THE DOCUMENTS ON BEHALF OF THESE FICTITIOUS SHGS AND COMPEL THE MANAGER TO RELEASE THE FUNDS. SINCE THE MANAGER IS ON RECEIVING END, HE WILL WITHOUT VERIFYING THE CREDIBILITY OF THE GROUPS DISBURSES THE MONEY WHICH STRAIGHT AWAY GOES INTO THE POCKET OF THESE TWO TOUTS AND A FEW AMOUNT FOR GREASING THE HANDS OF BANK STAFF AND THOSE VOCAL WOMEN WHO POSED AS PRESIDENT AND SECRETARY. NEVER IN THE HISTORY OF OVER THE LAST 3 YEARS, THE MANAGER OF THE MICROSAT BRANCH HAS CONDUCTED FIELD LEVEL SURVEY AND INTERACTED WITH THE BENEFICIARIES. HE SIMPLY DEPEND ON THESE BROKERS WHO PRETEND THEMSELVES AS ALL IN ONE IN THE BANK BEFORE THE GULLIBLE WOMEN.
ONE WILL BE SURPRISED TO KNOW THAT THESE BROKERS WILL HAVE DIFFERENT DIVISIONS ONE FOR FUNDING INITIAL DEPOSIT TO BE PAID TO THE BANK FOR GETTING LOAN FOR WHICH THEY CHARGE 10 -20% FOR THE AMOUNT FUNDED. THE SECOND CATAGAORY OF FUNDING IS MEANT FOR BUSINESS PEOPLE WHO STRAIGHT AWAY CAN GET THE LOAN MEANT FOR THESE POOR WOMEN FROM THESE BROKERS AT EXORBITANT RATE OF INTEREST. THE THIRD STAGE OF OPERATION IS BOTH THE CONCUBINE AND BROKER RANJAN ROUT ARE THE AGENTS OF VARIOUS PRIVATE INSURANCE FIRMS, AND ILLEGAL MULTI LEVEL MARKETING CAMPAIGNS FOR N-MART, AMWAY, MODICARE ETC., AND FORCES THE WOMEN TO TAKE THE MEMBERSHIP IN THE GUISE OF EXTENDING LOAN FROM INDIAN BANK. THEY APPRAISE THE WOMEN THAT THE BRANCH MANAGER IS INSISTING ON THESE MLM MARKETING AND UNLESS YOU DO NOT SUBSCRIBE TO THESE PRODUCTS BY PAYING RS.5000/- YOU WILL NOT GET ANY LOAN. THE GULLIBLE WOMEN IN ANTICIPATION OF LOAN BARROW MONEY FROM THE SAME BROKER AND SIGN FOR THE MULTILEVEL MARKETING CAMPAIGNS JUST FOR THE SAKE OF ELEVATING THESE BROKERS AND LANDING IN DEBT TRAP.
WE WITH AN INTENT TO CURB THIS MASSIVE FRAUD WHICH HAS ALREADY ASSUMED THE PROPORTION OF LARGEST GHOTALA FOR THE YEAR 12 SINCE THE MATTER HAS ALREADY BEEN TAKEN INTO THE NOTICE OF CBI AND CVC AS OUR EARLIER LETTERS TO ALERT YOU ABOUT THESE NEFARIOUS PRACTICES DID NOT YIELD ANY RESULT.
WE ARE ALSO HAVING STRONG EVIDENCE THAT THESE TOUTS IF NEED OF EXTRA MONEY EITHER FOR THE PURPOSE OF MEETING THE DEADLINES OF N-MART, AMWAY, MODICARE (OR) SIMPLY TO EXTEND LOAN TO SOME BUSINESS PERSON AT HIGHER RATE OF INTEREST, THEY SIMPLY CLOSE THE EARLIER LOAN OUT OF THEIR OWN FUNDS AND TAKE ADDITIONAL TOP UP LOAN THUS FLOUTING ALL SORTS OF NORMS AND REGULATIONS ISSUED BY THE APEX BANK. NO SHG SHOULD BE FORCED TO PRECLOSE THE MICRO-CREDIT, THAT TOO WHEN THE LOAN TENURE IS STILL 9 MONTHS APART. BUT UNFORTUNATELY, YOUR MANAGER, KNOWING THE FACTS, HAVE NOT TAKEN THE PRECLOSURE PRIOR TO 9 -10 MONTHS SERIOUSLY AND SANCTIONED DOUBLE THE LOAN AMOUNT AGAIN THROUGH THESE BROKERS TO A FEW VOCAL WOMEN AND THE REST TO THE OPEN MARKET FOR MONEY LENDING.
WONDERFUL FINANCIAL INCLUSION!! I MUST CONGRATULATE YOU FOR REACHING THE PUBLIC THROUGH TOUTS THEREBY FLOUTING ALL SORTS OF DECENCY AND BENT UPON PUTTING THE TAX PAYERS MONEY AT STAKE. NO FURTHER EVIDENCE IS NECESSARY FOR ANY PROBING AGENCY ONCE THEY DO COME ACROSS THE TRANSACTIONS CONDUCTED BY ONLY THESE TWO BROKERS WITHOUT GIVING CHANCE TO THE PRESIDENT, SECRETARY OR OTHER MEMBERS OF THE SHG. MORE OVER THEIR INTEREST IS NOT TO BUILD THE CAPACITIES OF THE SHGs INSTEAD TO MAKE THEM PART WITH MONEY TOWARDS N-MART, MODICARE, AMWAY LIKE ILLEGAL MULTI LEVEL MARKETING COMPANIES.
IF ANY PROBING AGENCY GO THROUGH THE PRECLOSURES OF LOANS ENTERTAINED OVER THE LAST ONE MONTH AND DISBURSALS MADE AND THE AMOUNT STRAIGHT AWAY FLUSHED INTO ILLEGAL MULTI LEVEL MARKETING COMPANIES, WOULD STAND SOLID TESTIMONY FOR THE ATROCITIES OF THESE BROKERS.
FURTHER, THE PASSBOOKS ARE CIRCULATED IN THE NAME OF THE BROKING FIRM AND HE COLLECTS THE MONEY AT HIS WHIM AND FANCY AND MAKE ENTRIES IN THE PASS BOOK WHICH WOULD NEVER TALLY WITH THE BANKING ENTRIES. IT IS UNFORTUNATE THAT THE MICRO STA BRANCH WHICH IS MEANT FOR FINANCIAL INCLUSION OF POOR AND MARGINALIZED WOMEN HAS BECOME FINANCIAL EXCLUSION FOR POOR AND A PERSONAL LOAN BANKER FOR AFFLUENT.
DESPITE OF OUR SEVERAL WARNINGS THE BANK HAS NOT HEEDED TO OUR REPRESENTATIONS AND NOT TOOK ANY STEPS TO CURB THE PRACTICES. EVEN THEIR HIGHER AUTHORITIES ARE ALSO TURNED DEAF EAR TO THE MOUNTING PROBLEM WHICH IN SHORT GOING TO ASSUME A MASSIVE FRAUD FOR THE YEAR .
IGNORING ALL THESE, THE BROKER NAMED RANJAN ROUT IN CONNIVANCE WITH THE BANK STAFF IS VIGOROUSLY ARRANGING PRE-CLOSURE OF LOANS EVEN BEFORE 9-10 INSTALLMENT DUE AND TAKING TOP UP LOAN AND FLUSHING THE MONEY INTO MLM BUSINESS.
VEXED WITH THE BANK'S ATTITUDE AND THEIR INTENTION TO ENCOURAGE THE BROKERS TO ENJOY NAPPING IN THEIR SEATS EVEN IF THE TAX PAYERS MONEY IS GOING TO DOGS, WE HAVE DECIDED TO TAKE THE CRUSADE TO THE NOTICE OF THE CENTRAL BUREAU OF INVESTIGATION, CENTRAL VIGILANCE COMMISSION, VIGILANT CITIZEN GROUPS AND MEDIA SO THAT THERE SHOULD BE A MASSIVE MOVEMENT ACROSS AGAINST THESE LEECHES WHO SUCKS THE BLOOD OF THE POOR. IN CASE IF THE BANK AUTHORITIES ARE SERIOUS TO CURB THIS PRACTICE, LET THEM DEPUTE THEIR HIGHER AUTHORITIES FROM HEAD OFFICE AND CEASE THE LOAN LEDGERS, TRANSACTION DETAILS, LOAN PRECLOSURE DEALS AND THE AMOUNTS FINANCED IN BHUBANESWAR OLD TOWN INCLUDING BUDHESWARI, KADALIGODOWN, BARGARH, CHINTAMANISWAR 1, 2, 3, 4, 5, 6, 7, SHGS. SHOULD YOU REQUIRE ANY SORT OF ADDITIONAL INFORMATION ABOUT THE MODUS OPERANDI OF THESE TOUTS WHO ARE NOT SUPPOSED TO BE IN YOUR BANK, WE ARE PREPARED TO SHARE WITH YOU, OTHERWISE WITH THE CBI AND CVC AND MEDIA.
Ashok Kumar Mohapatra
Convenor
Bharat Bacho Andholan
& Correspondent of Torch Bearer
Badambadi
Cuttack
Email: [email protected]
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