The Kotayya committee formed to look in to the crop loans and suggest a procedure for loan waiver has revealed several astonishing things in their observations. There are more gold loans in the name of agriculture than the crop loans indicating that the rich have resorted to gold loans for non-agricultural expenses as the interest is less. There are also loans which were taken the agricultural activities were over indicating the real purpose.
There are some loans in various banks taken on the same lands. The committee has suggested the government to weed out all the bogus loans by making Aadhar cards mandatory for all the bank accounts. However government is yet to take an official decision on this. There are reports that some of the banks have already started collecting Aadhar card details of their customers saying they are prerequisite for loan waiver.
