MP slams banks over pending claims, demands swift clearance of insurance & education loans

Nashik: MP Rajabhau Waje on Thursday pulled up banks for sluggish performance and directed them to immediately resolve pending insurance claims, education loan applications and cases linked to govt welfare schemes.Emphasising that govt welfare benefits were a right of citizens and not a privilege, Waje said there would be no compromise on beneficiaries’ rights. “Complaints related to the Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana and Atal Pension Yojana continue to pour in, with applicants frequently being turned away due to reasons like pending approvals from headquarters, incomplete documentation or procedural delays,” the MP said during the District Level Consultative Committee (DLCC) meeting held at the collectorate.“Eligible beneficiaries are facing immense hardship because insurance claims remain unpaid,” Waje said, directing all banks in the district to submit detailed reports on pending and rejected claims, specifying the reasons for each case.He also called for the creation of an independent grievance redressal mechanism and greater public awareness about the schemes.The MP also reviewed the backlog of applications under various govt schemes, expressing dissatisfaction over the lack of progress since the previous DLCC meeting.

He then told the banks to process applications within a fixed timeframe and provide written explanations to applicants in cases of rejection. Waje further sought a special drive to clear all pending cases before the next committee meeting.Education loans emerged as another major concern, with Waje highlighting that several applications have remained pending for as long as six months. “Delays in sanctioning loans during the admission period can severely affect students’ academic prospects and financial stability, he said, instructing the banks to accord priority to education loan proposals and ensure timely processing.The MP also flagged serious discrepancies in the implementation of the PM SVANidhi scheme for street vendors. According to officials, bank records indicate that loans were sanctioned and disbursed, but 15-20% of the beneficiaries listed under the scheme claimed they had not received any funds. Describing the issue as a matter of grave concern, Waje ordered an immediate and detailed investigation.