Jagjit Singh Dallewal, a prominent farmer leader, has vehemently condemned the alleged malpractices involving pre-signed blank cheques at the Primary Cooperative Agricultural Development Bank (PADB) in Faridkot, Punjab. Dallewal also raised serious concerns regarding the impartiality and effectiveness of the committee established to investigate these allegations.
Information was available with The Chenab Times indicating that Dallewal accused the probe committee of actively protecting bank employees implicated in the scheme, rather than conducting a transparent inquiry. He asserted that the committee appeared to be favouring influential individuals and the bank’s management, neglecting the interests of the affected farmers. Dallewal issued a stern warning that farmer organizations would not tolerate any attempt to conceal the truth and demanded an immediate, unbiased investigation followed by appropriate action against those found responsible.
The controversy stems from a purportedly long-standing practice within the bank where farmers seeking loans are allegedly required to provide pre-signed, blank cheques as collateral. According to accusations, these cheques are later deposited by the bank to initiate criminal proceedings and facilitate land auctions, even against farmers who claim to have settled their outstanding debts. This alleged practice has led to significant distress within the agricultural community.
The situation escalated dramatically on March 23 with the tragic suicides of two brothers, Jaskaran Singh, aged 38, and Jaswinder Singh, aged 34, from Hari Nau village. The siblings reportedly ended their lives by jumping in front of a moving train near Kotkapura. Reports suggest the brothers were under severe financial strain, with accumulated debt approaching Rs 25 lakh. While farmer leaders have stated the bank was not directly responsible for the deaths, the pervasive financial anxiety was widely seen as a contributing factor to their desperation.
In response to the growing unrest, farmer organizations, led by the Bharti Kisan Union (BKU) Ekta Sidhupur, launched an agitation on March 30. The protest garnered 139 distress complaints from local farmers. Following a 70-day demonstration outside the PADB branch in Faridkot, a seven-member joint committee was formed to conduct an inquiry. This committee includes two representatives from farmer unions, three senior PADB officials, and one representative each from the district civil administration and the police department.
The joint committee has allocated a ten-day period for hearings, intending to review approximately ten cases daily. A significant demand from many of the aggrieved farmers is the introduction of a transparent One-Time Settlement (OTS) scheme, similar to those offered by private and nationalized commercial banks. Farmer groups have indicated that larger demonstrations could be organized if the authorities fail to take decisive action and continue to allegedly shield the accused parties.
The PADB, also known as the Land Mortgage Bank, plays a crucial role in providing agricultural credit in the region, facilitating long-term loans for land development and improvement. However, allegations of cheque misuse have cast a shadow over its operations and raised questions about the efficacy of regulatory oversight. The ongoing investigation aims to address these grievances and restore confidence among the farming community.
The farmers’ organizations have reiterated their commitment to pursuing justice for all affected individuals. They are advocating for systemic reforms to prevent such occurrences in the future and ensure that financial institutions operate with greater transparency and accountability. The resolution of this case is expected to have implications for agricultural lending practices in Punjab.
The Chenab Times News Desk