Loans flouted norms, Kummanam Rajasekharan tells RBI

Thiruvananthapuram: BJP State president Kummanam Rajasekharan has shot off a complaint to Reserve Bank officials for granting loan to Munnar resort owners. Kummanam has sought a detailed investigation by the RBI as well as by the CBI.

He alleged in the letter that the loans have been granted to the resort owners against the banking rules and norms set by the RBI.

"Several resort owners in Munnar managed to get bank loans by providing forged documents before the banks. Since the lands are illegal lands, the banks are finding it difficult to retrieve the land for non-payment", said Kummanam.

He also alleged that the unholy nexus between the politicians and the resort owners have caused heavy loss to the exchequer.