Staff Reporter

ERODE: Three employees of a primary agriculture cooperative bank have been suspended on charges of financial misdemeanour.

According to sources, secretary in-charge Sadasivam, writer Devi and assistant Mohanraj of Vellalapalayam Primary Agriculture Cooperative Bank, which is near Gobichettipalayam, have been placed under suspension after over 200 account holders led by Vellalapalayam panchayat president Velusamy protested in front of the bank on Tuesday.

The protesters alleged that the three had committed fraud in waiving the agriculture loans the State Government had announced in 2006, disbursing loans and distributing fertilizers.

Following an inquiry conducted by the PACB’s special officer, the three were placed under suspension.

The officer is also said to have recovered Rs. 2.42 lakh from the three.

The Department officials are conducting further inquiries.