The investment scam of Bhopal District Cooperative Bank has increased from Rs 118 crore to Rs 331 crore. The bank has invested in finance and infrastructure companies in violation of rules.
The bank has invested Rs 150 crore in the Adani group and several other small companies. The process of taking the money back from these companies has been started, though.
However, Cooperative Minister of Madhya Pradesh Govind Singh has handed over the case to Economic Offence Wing (EOW).
The Cooperative Department has suspended the Deputy Registrar and then MD R S Vishwakarma of Bhopal District Cooperative Bank.
Vishwakarma has been accused of diverting the money in those companies which are not in position to pay the money back. He did not appropriate the bank’s Rs 331 crore as directed by the Reserve Bank of India and NABARD.