Saturday , November 26 2016
Home / News / Telangana / Fake claims in loan waiver scheme audit: Telangana Minister

Fake claims in loan waiver scheme audit: Telangana Minister

telangana-govt_505_053114102100

The Telangana government today said that a sample audit of the farm loan waiver scheme revealed that claims worth more than Rs 800 crore were fake.

“Based on verification there may be six per cent to seven per cent of fake claims. So if you take the total loan waiver scheme amount which is Rs 17,500 crore, it would come to Rs 800 crore to Rs 1,000 crore,” Telangana Finance Minister Etela Rajender said at a press conference.

He said that so far the Telangana government has sanctioned Rs 7,300 crore for the scheme, adding that it is now in the process of eliminating such faulty claims.

“We will launch full-fledged audit into implementation of the scheme and recover the amount from undue beneficiaries,” he said.

Rajender said that the State Level Bankers’ Committee which met today agreed to adjust the credit outlay of the state upwards to Rs 78,776 crore from its earlier estimate of Rs 72,112 crore.