‘DCC bank has not disbursed loan to Harsha Sugars’

Kodagu district Cooperative Central Bank President Kodangera Ganapathi has clarified that the DCC Bank had not disbursed any loan to Harsha Sugars owned by MLA Lakshmi Hebbalkar.

Speaking to the media, he said the rumour that DCC Bank had lent crores of loan to Harsha Sugars is far from the truth. The Bank had lent loan of Rs 8.68 crore to Savarin Industries owned by Shivakumar of Bagalkote. Unfortunately, they do not pay interest. The loan was lent under the guidance of Apex Bank.

"The DCC bank had disbursed loan of Rs 10 crore to Kanachur Islamic Education Trust and the interest amount is paid promptly by the Trust. The bank has brought in an amendment to the bylaw to ensure that loan is not lent to customers from outside the district," he added.