Ex-Union minister was given loan despite bank norm against politicians | mumbai | Hindustan Times
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Ex-Union minister was given loan despite bank norm against politicians

mumbai Updated: Aug 28, 2012 01:35 IST
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A senior ICICI bank official on Monday told the state-appointed Adarsh commission that former Union minister Suresh Prabhu, who is also a member of the Adarsh housing society was given a loan even though as a norm, the bank does not give loans to politicians.

Deposing before the two-member panel set up to probe the Adarsh housing society scam, Pankaj Madhuskar, 40, the chief manager of the Bandra-Kurla branch of the bank, said that politicians are listed as negative profiles – meaning that they are not given loans by the banks.

“As a politician, Suresh Prabhu would come under the negative profile. Despite that, the loan was granted to him,” said Madhuskar. Prabhu is the former Union environmental minister and is from the Shiv Sena.

Twenty-four members of Adarsh society have been given loans from ICICI bank. “The bank has not granted home loans to any other member, apart from these 24,” said Madhuskar, adding that 20 of these have repaid the bank, while four are still to clear their dues.