Action to be taken against guilty bank officials in Rs 33 crore scam

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Bhubaneswar, Mar 19 (UNI) Action would be taken against officials if found guilty in the alleged Rs 33 crore scam in the Cooperative Bank, Minister for Cooperation Surama Padhy told the state Assembly today.

Replying to a question of Dhanurjay Siddhu(Cong), the Minister said that the Reserve Bank of India(RBI) was examining the issue and action would be taken after analysing the whole issue.

The Cooperative Bank has suffered a loss of Rs 33 crore after it purchased bonds worth Rs 153 crore, while its market value was only Rs 120 crore.

Mrs Padhy said that 14 branches of the bank were operating in the state and there had been no proposal to open branches in each district of the state.

She said all the 14 branches were making profit, except the one in Bhubaneswar, which was running on a no-profit-no-loss basis.

UNI BD LL DB2101

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