Now, another Thrissur coop. bank in loan scam
The Hindu
Audit report finds irregularities in Moospet Service Cooperative Bank in Thrissur, puts loss at ₹13.36 crore
After the loan scam at the Karuvannur Service Cooperative Bank, another bank fraud has come to light in Thrissur district. The fraud has been reported at the Moospet Service Cooperative Bank controlled by the Communist Party of India (Marxist). The irregularity has been found in an audit report of the Registrar of Cooperatives. It is reported that the bank has suffered a loss of ₹13.36 crore due to the fraud. It is reported that loans were sanctioned beyond the operating limit of the bank to board members and their relatives illegally. High loan amounts were sanctioned by exaggerating the value of the collateral. Though the Registrar’s report was submitted a few months back, no action has been taken against the bank authorities.
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