Protestors seek return of pledged gold in Bank of Baroda ‘loan scam’

Victims of the alleged golden indebtedness scam astatine the Bank of Baroda subdivision successful Jangareddygudem staged a protestation astatine the Eluru Collectorate connected Monday, demanding contiguous justness and the instrumentality of their pledged golden ornaments.

The protest, organised nether the banner of the Andhra Pradesh Rythu Sangham, began with a rally from the Zilla Parishad bureau to the Collectorate. Raising slogans specified arsenic “Return our gold,” the affected farmers, tiny traders, artisans, and different relationship holders accused slope officials of misappropriating golden pledged against loans.

Addressing the gathering, Andhra Pradesh Rythu Sangham territory caput K. Srinivas alleged that customers who had pledged golden for cultivation and household needs were shocked to larn that their ornaments were missing from the bank’s custody. “Iron objects and chalk pieces were allegedly recovered successful spot of the pledged gold,” helium alleged, accusing slope officials of manipulating records and online accounts to conceal the fraud.

Mr. Srinivas described the incidental arsenic 1 of the biggest fiscal scandals successful the territory and criticised the slope authorities for their alleged negligence contempt continuous protests by victims implicit the past 10 days. He demanded a broad enquiry and contiguous compensation for the affected customers.

Meanwhile, CPM territory caput R. Lingaraju extended enactment to the protestors and called for swift action. He stated that portion the subdivision reportedly had astir 2,600 golden indebtedness accounts, lone astir 1,600 accounts had been verified truthful far. He alleged that golden weighing implicit 4 kg belonging to 82 customers was unaccounted for and expressed fears that the missing quantity could emergence importantly erstwhile each accounts were examined.

Several protestors shared their experiences, alleging that the golden they had pledged was missing and demanding written assurances from elder Bank of Baroda officials regarding its betterment and return.