District Bank to be investigated by ACB

District Bank to be investigated by ACB

NASHIK: The Anti-Corruption Bureau will investigate the NDCC bank due to a permission order of the Co-operation Department in the corruption case of Rs 348 crores. The Director-General of Police has also permitted the inquiry. This will only add to the problems of the directors of Nashik District Central Co-operative Bank.

In the district bank, 29 serving and former directors have caused financial loss to the bank in various scams including furniture and installation of CCTV. Complaints were lodged in this regard. However, the Department of Co-operation did not allow the Bribery Prevention Department to investigate. Girish Mohite had complained with the Commissioner of Co-operation. Following the complaint, the Co-operative Marketing and Textiles Department had given the green light to the inquiry into the board of directors of the bank as per Section 2 (c) of the Prevention of Corruption Act, 1988.

District Bank gets clean chit

Guardian Minister Chhagan Bhujbal had ordered an inquiry into the Nashik District Bank which was using the money given by the state government for the disbursement of loans to the farmers. As inquiry has been completed and the report stated that the bank paid the depositors only with the permission of the co-operation department was reported by District Collector Gangatharan D. The report has been submitted to the Divisional Commissioner.

The bank was given Rs 920 crore to disburse the loan. Of this, Rs 710 crore was paid as capital and about Rs 210 crore as interest. Out of this, the bank was expected to disburse Rs 710 crore as a loan. However, loans amounting to Rs 334 crore were disbursed to 45,315 farmers. However, the bank used Rs 303 crore to repay the depositors. The commissioner had given orders to the district collector. Accordingly, the district collector has inquired and given this report. He said that it came to light in the investigation that the bank had prior permission.

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