Rs 370 cr-fraud detected in cooperative banks, societies in Odisha

Bhubaneswar: Corruption amounting to Rs 370 crores in various cooperative banks and societies has been detected, informed Cooperation Minister Surya Narayan Patro today.

In a written reply to a question of BJP MLA Dilip Ray in the Odisha Assembly today, Patro said the audit report handed over to the State government has revealed Rs 370,69,99,000 of misappropriation in 7,037 cooperative institutions including state cooperative banks, 17 Central cooperative banks and 16 urban cooperative banks.

Patro further informed that 20,424 persons are involved in such corruption and government has initiated 20,466 surcharge proceedings for recovery of the amount.

As per reports, sum of Rs 5,83,53,147 has been realised till date from 649 surcharge proceedings against 1173 persons of 18 cooperative institutions.