A huge scandal involving crores of rupees in the name of cooperative societies operating in five districts of Bihar has come to light. Lakhs of people are likely to be affected by it, says a news outlet.
It is being said that four different cooperative societies popularly known as Mahua Banks, have been accused of cheating people. The societies are operating from offices in Muzaffarpur, Bhojpur, Patna, Vaishali and Sitamarhi districts.
Victims are small shopkeepers, poor people and roadside shop owners. Agents from Mahua Bank used to collect 20-30 rupees daily on the promise of high return. Spurred by greed many people started depositing one thousand rupees every month. Agents did not return the money on completion of tenure.