Kerala chief minister has ordered an inquiry into the irregularities the dept of cooperation had brought to the surface at Thrissur-based Adat Farmers Service Co-operative Bank, reports Indian Express.
The dept’s report had exposed irregularities in the membership register, disbursement of huge amount of loans to the undeserving and faking entries in documents. The inquiry would also cover the bank president and Anil Akra MLA involved in the frauds.
According to an estimate, irregular transactions have cost the bank a loss of Rs 31.75 crore.
Meanwhile, the MLA has welcomed the inquiry and demanded the Vigilance inquire into the transaction between the bank and Consumerfed.