BDCC Bank Takes Legal Stand Against Misinformation Campaign
The Belagavi District Central Cooperative (BDCC) Bank has adopted a firm stance against what it describes as a concerted effort to tarnish its reputation through false and misleading statements. In a strongly worded announcement, bank authorities declared that legal notices will be served to anyone found making baseless allegations or spreading misinformation about the institution's operations.
Press Conference Addresses Specific Allegations
During a joint press conference held in Belagavi, BDCC Bank chairperson Annasaheb Jolle and MLA Balachandra Jarkiholi directly addressed what they called malicious campaigns by specific individuals. They identified former MP Ramesh Katti and Dr. Mahantesh Kadadi of Gokak as primary sources of what they termed unfounded allegations circulated through media channels.
Jarkiholi revealed that a legal notice has already been issued to Dr. Kadadi, who had publicly claimed that the bank sanctioned an illegal loan to Ghataprabha-based contractor Jaysheel Shetty. The MLA provided detailed clarification about this transaction, explaining that the bank extended a substantial Rs 100 crore loan to Shetty. This financing was secured against hypothecation of 4 acres of commercially valuable land in a prime Belagavi location, along with pending bills worth Rs 700 crore payable to Shetty by both minor and major irrigation departments.
"If Kadadi fails to apologize for his false statements, we will proceed with filing a defamation case against him," Jarkiholi stated unequivocally during the press briefing.
Defending Additional Loan Sanctions
The bank officials also addressed concerns regarding loans sanctioned to Soubhagyalaxmi Sugar Factory. Jarkiholi explained that the institution provided an Rs 80 crore loan against property valued at approximately Rs 300 crore, which included 432 acres of land. He expressed frustration that some individuals were deliberately attempting to mislead the public about these legitimate banking transactions.
"If they continue with this negative attitude and attempt to damage the bank's credibility, they will not be permitted to assume any positions of power within the bank for the next fifteen years," Jarkiholi warned, indicating serious consequences for those engaging in what he characterized as smear campaigns.
Chairman Counters Criticism with Historical Context
Chairman Annasaheb Jolle responded to criticism from former chairman Ramesh Katti, who had been questioning recent loan approvals by the bank. Jolle presented historical context, revealing that the Katti family themselves had availed significant loans from the institution.
He detailed that the Katti family received Rs 97 crore for constructing a shopping mall on 7,270 square meters of land in Belagavi, plus an additional Rs 100 crore for Vishwaraj Sugars, secured by mortgaging 13.1 acres of property. "Should we claim those transactions were improper? Absolutely not. We approve loans when borrowers possess adequate property for hypothecation. We do not extend financing to defaulters," Jolle emphasized, defending the bank's lending practices.
Bank Performance and Employee Benefits
Beyond addressing allegations, Chairman Jolle highlighted the bank's strong financial performance. He reported that BDCC Bank disbursed the highest agricultural loans in the state, totaling Rs 3,710 crore—an increase of Rs 300 crore compared to the previous year. Deposits grew by Rs 500 crore, and non-agricultural lending also showed positive growth.
Regarding agricultural support, Jolle noted that under the zero percent crop loan scheme, the crop loan cap remains at Rs 46,000, as determined by state and district technical committees.
In a significant employee welfare announcement, the chairman revealed a new insurance scheme for all 2,081 bank employees. The comprehensive coverage includes Rs 1 lakh for couples with two children, Rs 5 lakh compensation for natural death, and Rs 15 lakh for accidental death. The premium structure allocates 58% to the bank, 21% to employees, and the remaining 21% to societies operating under the bank's umbrella.
Widespread Support for Bank's Position
The press conference witnessed substantial support from bank leadership and local representatives. Vice-chairperson and MLA Raju Kage, MLC Channaraj Hattiholi, and directors including Rahul Jarkiholi, Arvind Patil, and Mahantesh Doddagoudar were all present, demonstrating unified backing for the bank's decision to pursue legal action against those spreading what they consider false information about the institution's operations.
