The Amanath Cooperative Bank Ltd. has claimed that the funds that was been siphoned off from the bank by granting ‘benami’ loans, including interest, was Rs. 64 crore.

This follows inquiries by the bank, Corps of Detectives and the Cooperation Department in 2002, said a press release on Friday.

‘Exaggerated’

Bank president Naseer Ahmed, MLC, said that the chairman of the Karnataka State Minorities Commission Anwar Manippady’s complaint that Rs. 3,500 crore had been embezzled was “highly exaggerated”.

Jurisdiction

Mr. Ahmed pointed out that the bank did not come under the purview of the commission.

The bank comes under the purview of the Reserve Bank of India and is governed by Banking Regulation Act.

‘Not under government’

Further, a complaint related to the bank cannot be lodged with the Lokayukta as no person associated with the administration of the bank is a government official, the press release added.

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