Opposition leader in Maharashtra Legislative Council Dhananjay Munde has alleged that the Beed District Cooperative Central (BDCC) Bank deposited crop insurance amount of Rs 251 crore, meant for 4.89 lakh farmers in the district, with private banks instead of distributing it among farmers, reports a News Outlet.
The Bank is controlled by Munde’s cousin and state rural development minister Pankaja Munde.
The money was deposited as FDs in Axis Bank, Maharashtra State Cooperative Bank and HDFC Bank, Mr. Munde informed.
The divisional sub-registrar, Latur has confirmed the bank earning interest on the money meant for disbursement among the needy farmers.