Sunday, September 26, 2021
Top Stories

BAN flays banks for harassing PMEGP applicants


Dimapur, August 17: The Business Association of Nagas (BAN) has slammed banks for the mental, physical and financial harassment meted out to applicants of Prime Minister’s Employment Generation Programme (PMEGP) even after clearing the selection process conducted by the Government.
In a meeting with aggrieved applicants of PMEGP Saturday at Hotel Saramati, Dimapur, the BAN said it was “awestruck to know the mental, physical and financial harassment meted out to the applicants by various banks even after clearing the selection process.”
The meeting was organized after BAN received complaints from applicants who have successfully cleared the interview but their loan sanction was delayed by banks for different reasons. 24 PMEGP applicants attended the meeting.
Citing an applicant, BAN said she was asked by a private bank to deposit Rs 10 lakh as collateral for a Rs 15 lakh project. In another case, a Government undertaking bank made a pregnant lady run from pillar to post and in the end refused her the financial assistance.
“In another case, a youth with a brilliant idea after receiving the notice that he has been selected for the loan made a trip to Delhi to get industry experience. Only to find out after he came back that his project has been declared ‘not feasible’ by the bank,” it said.
BAN said it fails to understand why applicants are made to go through a lengthy process of project making, interview, entrepreneurship development programme, etc only to be shown the door by the banks.
“Our youths may not be technically sound but today’s generation have shown positive entrepreneurial spirit and dedication. They should be given a chance. Past beneficiaries may have defaulted and created NPAs but why should our present generation pay for the sins of the past,” it questioned.
Reminding that PMEGP is a Prime Minister’s scheme which holds great promise and can empower many upcoming entrepreneurs, the BNA wanted that the PMEGP is not downgraded to just another lowly Government scheme.
BAN also declared that it is committed to help genuine applicants of the scheme get what they deserve and will take up the matter with the concerned authorities. (Page News Service)