Plea for probe into KSCB loans

Special Correspondent

THIRUVANANTHAPURAM: Outgoing Chief General Manager of the National Agriculture Bank for Rural Development (NABARD) B.S. Shekhawat has urged Cooperation Minister G. Sudhakaran to investigate all big loans issued by the Kerala State Cooperative Bank (KSCB) during the past few years.

Mr. Shekhawat, in a letter, requested the Minister to expedite the inquiry as advised by the NABARD Chairman in April last year.

He urged him to rescind the powers of the KSCB executive committee to sanction such loans without banking safeguards and even against the recommendations of the loan section of the bank.

Mr. Shekhawat said that many times he had raised the issue in the director board in which he was a nominated member like the Registrar of Cooperative Societies and persistently sought to review the constitution and powers of executive committee.

Mr. Shekhawat also lauded the interest evinced by Mr. Sudhakaran in revamping the cooperative sector and setting a path for its future growth and development.

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