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Ravinder Sood
Palampur March 19
The state vigilance authorities and Additional Registrar, Cooperative Societies, have started a probe into underplayed non-performing assets (NPAs) shown by the Kangra Central Cooperative Bank in the last financial year.
Managing Director of the KCCB PC Akela had highlighted these facts in a letter written to the state government, saying that the NPAs of over Rs 169.36 cr pertaining to 3,633 accounts were understated by the bank.
The vigilance authorities have taken all 3,633 files pertaining to the NPAs in its possession. The authorities are scrutinising the irregularities committed by different branches of the bank. They will find out why the loans were not reflected in the category of NPAs classification despite the fact that all these accounts had become NPAs since account holders had failed to repay the loans.
Keshav Korla, a director of the bank, had highlighted these facts in the meetings of the board of directors time and again, but the previous Congress government failed to initiate any action.
Soon after the change of guards in the state, the new BJP government ordered a probe and assigned the job to the vigilance and Registrar, Cooperative Societies, so that culprits could be brought to book.
Keshav Korla has also alleged that the NPAs of the bank had increased due to faulty loans advances by the bank.
He had also stated that in the last financial year, the NPAs of the bank had risen sharply due to bad loans given by the bank management. The NPAs increased from Rs 402 crore to Rs 542 crore in the previous financial year.
If a loan account holder fails to deposit three consecutive installments, his account was declared as NPAs. After the directions of the bank authorities, bank managers swung into action. Over Rs 80 crore had been recovered from the classified NPA accounts.
Kangra bank NPA numbers
6
8