Large Noida: Hundreds of farmers on Thursday held protests and conducted Panchayat in the Punjab National Bank Rabupura (PNB) branch against “fraud” alleged in the name of a permanent deposit scheme.
The protesters alleged that some of those who wanted to deposit their money in deposits remained with PNB misled to buy Metlife insurance policies instead.
PNB distributes the Metlife insurance policy through its branch network under setting with US-based annuity providers.
Led by BKU-Lokshakti, the farmers demanded their refund and their actions against several Metlife and PNB officials.
“Farmers are not too educated and fooled.
They failed to understand the provisions of the insurance policy.
About 100 farmers have been affected,” said President Bku-Lokshakti Master Shyoraj Singh.
A farmer who was affected like that, Giriraj Singh from Ronija Village accused that while a policy was opened at his name for RS 1 Lakh installments per year, he had to close the policy after a reduction because he could not deposit the premium.
When protests were intensified, Tehsildar and HR Jewar arrived at the place with police officers and convinced the demonstrators that the “money” lost by farmers must be returned with interest.
The main bank manager Ved Rattan, “We have told the farmers that the action will be taken accordingly.
The cases presented before officials during Panchayat have been recorded and Metlife officials are asked to solve it.” Rajesh Sharma, manager for Metlife in the Surajpur region, said , “We hold discussions with the PNB account holders about the policies they can buy if they are interested.
The right verification is done by telephone and video calls, and customers get 15 days to submit a policy.”