CAG asks banks to recover money from ineligible beneficiaries ( Business Line News )
MUMBAI, JAN. 14:
The Comptroller and Auditor General (CAG) has asked banks to recover money from ineligible beneficiaries under the Agricultural Debt Waiver and Debt Relief Scheme (ADWDRS) of 2008.
The performance of audit of the ADWDRS by CAG has revealed that ineligible farmers were extended benefits under the scheme.
The audit noted that to provide benefit to ineligible farmers, instances of tampering and over-writing, inadequate documentation, had taken place.
The Government’s audit body wants banks to fix responsibility of bank officials as well as auditors for the lapses. Further, banks should consider lodging first information reports in cases of tampering of records.
CAG has also come across cases where though benefit was only extendable to farmers directly under the scheme, in some cases loans extended to microfinance institutions were claimed and disbursed. In this case, CAG wants banks to fix responsibility of officials responsible for such disbursal and recovery of the money.
In the case of less/excess benefit extended to eligible accounts under ADWDRS, CAG wants recovery in cases of excess payment and fix responsibility of banks’ officials as well as auditor responsible for such acts.
In case Debt Waiver and Debt Relief Certificates have not been issued, then the CAG wants banks to issue them immediately. This process should be completed by February 28, 2013.
When it comes to reimbursement of inadmissible charges to banks, the CAG has directed that banks should recover such money and fix responsibility of claimant institutions and disbursing officials.
No comments:
Post a Comment