Bhubaneswar, Aug 1: Massive financial irregularities have been detected in various cooperative banks of Odisha. Misappropriation of funds to the tune of Rs 224.61 crore was found during the financial audit of Odisha State Cooperative Bank (OSCB), 17 Central Cooperative Banks (CCBs), and 13 Urban Cooperative Banks (UCBs) in the state.
Odisha Cooperation Minister Pradeep Bal Samanta informed the Odisha Assembly on Wednesday while answering a question asked by senior Congress leader Tara Prasad Bahinipati.
The audit also found the involvement of 1,704 people in the misappropriation of the funds, the minister added.
Samanta said that Rs 16.63 crore has been realised till date from the persons involved in the misappropriation of the funds over several crores. The department has also issued directions for the recovery of another Rs 30.73 crore from 706 persons found responsible for the fraud.
Meanwhile, the Registrar of Cooperative Societies, Odisha, on Wednesday suspended the management committees of the Odisha State Cooperative Bank Ltd and Odisha Cooperative Housing Corporations Ltd under the Odisha Co-operative Societies Act, 1962 over misappropriation of funds.
