The loan had been taken from Beed District Central Co-Operative Bank in the name of a college run by a Munde-controlled trust in Solapur.
The Bharatiya Janata Party's deputy leader in Lok Sabha, Munde said he cleared the principal amount along with interest and other dues through electronic mode Friday.
Munde told IANS that some people sought to "politicize" the issue, so he had paid the amount.
His name reportedly figured on the BDCCB's list of alleged defaulters for the pending loan amount from the bank controlled by politicians from different political parties.
There were demands from various quarters demanding action against at least 23 politicians who were defaulters of the BDCCD.
According to sources, the loan amount of Rs.2.50 crore plus interest and penalties has now been fully cleared.
--IANS (Posted on 05-10-2013)