The financial condition of Uttar Pradesh Cooperative Rural Development Bank is not good and till 30th June bank has to recover around Rs 3,000 crore from the borrowers but so far only Rs 451 crore has been recovered.
This was announced by Additional Commissioner and Additional Registrar Banking Andra Vamsi during the review meeting held recently.
Due to the recent parliamentary election, the speed in recovery work was slow but the negligence of regional and branch managers of the bank was very high. If the amount is not recovered on the given time, Nabard is likely to stop the bank from doing business.
The registrar warned if recovery is not done on time, suspension of the concerned officers and employees will be ordered.
Of the five divisions, the situation of Prayagraj Mandal is the worst. The registrar informed that there are about 1.42 lakh debtors in Gorakhpur but only 18k borrowers have repaid their dues so far.
Sources say CM Yogi Adityanath is personally monitoring the case.