Three banks forced to shut down in Mokokchung

PMEGP beneficiaries flay delay in disbursing loans [caption id="attachment_155976" align="alignnone" width="550"] Aggrieved beneficiaries under PMEGP shutting down a bank in Mokokchung Town on December 20. EM Images[/caption] Our Correspondent Mokokchung, Dec. 20 (EMN): Expressing resentment over the delay in releasing the loan amount under Prime Minister's Employment Generation Programme (PMEGP), the agitated beneficiaries of 2014-17 on Wednesday restored to locking down three bank branches in Mokokchung. The three banks include the Axis bank, HDFC bank and ICICI bank. About 30 beneficiaries – mostly unemployed youths and start-up entrepreneurs have not received their loan amount despite being selected and all formalities and training done, it was informed. The closure of banks was initiated by the aggrieved beneficiaries under PMEGP 2014-17 with support from Ao Senden, Watsu Mungdang, Ao Kaketshir Mungdang(AKM) and Mokokchung Town Lanur Telongjem(MTLT) after the expiry of a dateline (Dec. 20) given to concerned banks to sanction positively all the PMEGP applicants who were selected by the District Level Task Committee , starting from 2014. The following dateline was given to the three banks during a joint meeting held between the District Administration, the beneficiaries, Ao Senden, Watsu Mungdang, AKM, MTLT and the concerned banks on Dec. 14, when the agitated PMEGP beneficiaries 2014-17 launched its first agitation on the same day. However, on the expiry of the dateline and no positive response from the banks the aggrieved beneficiaries along with apex organizations, today meet the Mokokchung Deputy Commissioner at it his office chamber and relay its displeasure over the lackadaisical attitude shown by the banks and its resolve to shut down the banks indefinitely. One of the PMEGP beneficiaries said that the shutting down of three banks will be indefinite until the banks come up with a positive response and justice is served to the beneficiaries. Meanwhile, a bank staff informed that they have intimated the central office about the current prevailing situation and grievances faced by the beneficiaries, however, the decision to release the loan amount under PMEGP depends on the central office decision. The shut down today caused many customers of banks to turn back without transacting their business as usual. With the festive season on the closure of the banks might ultimately affect the customers and businessmen who main season of earning and expending mainly depend in the month of December. An ultimatum was also submitted to the Deputy Commissioner by the organisations.