Warangal District Central Cooperative Bank (DCCB) chairman Janga Raghava Reddy said his suspension was revoked and he assumed charge again as allegations against him had been proved wrong.
Speaking to newsmen here on Tuesday, he said charges were levelled against him by TRS MLA Errabelli Dayakar Rao as part of political vendetta. However, he came out clean as there was no substance in the allegations.
“One of the allegations was of misappropriation of ₹20 crore in building construction, while the actual cost of the building was just ₹9 crore,” Mr. Raghava Reddy said.
As a result of two month suspension, the bank’s function was affected. The farmers were unable to get loans even as the new crop season started.
According to him, the bank was supposed to stock fertilizers worth ₹30 lakh in each of the 93 cooperative societies and it could not be done as a result of his suspension.
“Now our focus is to expedite loans and RuPay cards to farmers and ensure availability of fertilizers in all societies at the earliest,” he said. accusing Mr. Dayakar Rao of trying to disrupt the operations of the bank.
Mr. Janga Raghava Reddy was planning to contest next Assembly election from Palakurthy on the Congress ticket which is currently being represented by Mr. Dayakar Rao. Mr. Reddy said the TRS MLA was unable to stomach the growing public patronage to Congress party in the constituency and he was targeted.
