BJP MLA Balachandra Jarkiholi has denied speculations suggesting he plans to contest the upcoming elections for the Belagavi District Central Cooperative (BDCC) Bank. Calling the reports baseless, he stated, “I will not be contesting, that’s certain. These claims are far from reality.”
Speaking to the media on Thursday, the former KMF chairman clarified that while he won’t be in the fray, a member from his team will contest and secure a position in the elections scheduled for October. “Our team will be part of the board of directors,” he added.
Earlier this year, a no-confidence motion led to a leadership change in the bank, replacing former MP Ramesh Katti with Appasaheb Kulgude, a known ally of the Jarkiholi brothers. Kulgude’s current term ends in October. The reshuffle reflected deeper political differences involving other regional leaders, including former MP Annasaheb Jolle and the Katti family. Historically, BDCC Bank politics have had a broader impact on Belagavi district and state-level dynamics.
When asked about reports that Congress MLA Laxman Savadi may seek the top post, Jarkiholi declined to comment directly. “Several MLAs are interested in the position. Everyone is free to contest. While they may be from different parties, politics should not influence the functioning of the bank,” he said. “The bank’s operations will remain unaffected, regardless of the affiliations of board members.”
He also rejected claims that BDCC Bank provided unsecured loans to sugar factories owned by his brother, former minister Ramesh Jarkiholi. “The DCC Bank issued ₹160 crore to Laxmi Narayana Society, backed by assets worth ₹330 crore as security. If the loan isn’t repaid within eight years, those assets will be attached. We have no details if the society extended loans to Ramesh Jarkiholi’s factories,” he clarified.
