Odisha cooperation minister Surya Narayan Patro has warned strict would be taken against cooperative officials found indulging in illegal transactions. Several cases of fake loan to farmers have surfaced in which the co-op officials pocketed the loan amount and showed it in the name of farmers in the paper, reports Odisha Tv.
In one case, the allegation is officials of the cooperative have misappropriated around Rs 4.67 crore by issuing fake loans in the name of around 200 farmers.
Meanwhile the Co-operative Department has sprung into action seeking a report from Koraput Central Co-operative Bank within a week.
Many loanees including farmers have aired their complaints about this irregularity. It is being said a large number of cooperative officials are associated with this fraud, reports Odisha TV.