Co op bank scam: CBI probe sought

Hamirpur, March 30

The scam in Kangra Central Co-operative Bank (KCCB) must be investigated by the CBI. This was stated by Raseel Singh Mankotia, former Chairman of KCCB, here today. He alleged the scam in Palampur branch was not a one-off case and if investigated many more scams would come to fore. He alleged the bank had issued a loan of over Rs 3.85 crore without prior approval of the Board of Directors (BoD) and a manager of the bank could not take this big risk without the connivance of people sitting at the helm of the bank.

He said it was surprising that the loan was issued to a person who was allegedly a defaulter of other banks in the area. Mankotia demanded that the governing body of KCCB be quashed immediately and an administrator must be appointed to save the hard-earned money of the bank account holders. —OC