Joint teams to inspect central cooperative banks in Rajasthan

Ten joint inspection teams have been formed in Rajasthan to review the functioning of 29 central cooperative banks following the complaints received from farmers in connection with the release of loans. The activities of multi-State credit cooperative societies are also being monitored to stop irregularities.

The teams will check the banks and submit reports to the Registrar’s office. Registrar of Cooperative Societies Muktanand Agrawal said here on Tuesday the instances of embezzlement had come to light in several banks and complaints had been received from several places.

“The inspection drive has been launched to improve the functioning of banks and village cooperative societies. As many as 30 officers of the Department have been appointed in the 10 teams,” he said.

The Registrar said the teams would inspect share capital of the banks, fund management, bank collateral, lending, implementation of budgetary announcements, recovery and arrears, loan disbursement status, non-performing assets and compliance with the Banking Regulation Act.

Over 40 multi-State credit cooperative societies registered in Rajasthan are also being inspected to prevent scams and irregularities. Mr. Agrawal said criminal cases would be registered against the societies collecting money under the unregulated schemes.

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Printable version | Sep 26, 2021 4:03:50 PM |

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