SURAT: Police commissioner Shivanand Jha has suggested to the director general of police of Gujarat that the investigation into the Udhana Citizens’ Cooperative Bank case may be handed over to the economic cell of the CID. The first criminal complaint in the case was registered against the bank's chairman and general manager 10 days ago. Primary investigation into the case has revealed that ad hoc withdrawal of about Rs 13.60 lakh had been made and the public money was misused. The Reserve Bank of India (RBI) had about four and half months ago imposed restrictions on the functioning of Udhna Citizens Cooperative Bank under Section 35 (A) of the Banking Regulation Act. An administrator for the bank, which has about 51,339 account holders and depositors, was also appointed later. The bank has on paper assets and deposits worth Rs 93 crore and made advances to the tune of Rs 68 crore. A large portion of the industrial lending, housing loan and mortgage loans recoveries have not been realized putting the bank to the risk of liquidation.
The very purpose of VITALINFO is to provide a platform for wider dissemination of updated information related to and happening of events in and around RBI.
No comments:
Post a Comment