Found guilty on many charges, Uttarakhand State Cooperative Bank Managing Director Deepak Kumar has been demoted as General Manager in the Bank.
Meanwhile the Charge of MD has been handed over to State Registrar B M Mishra.
Cooperative secretary R Meenakshi Sundaram said, “There are many complaints against Deepak Kumar and he has been accused of not following the norms of RBI guidelines. After a probe, he was found guilty and on Thursday he was demoted to General Manager of the Bank. Now the selection of new MD will be done.”
Meanwhile, several cooperators wondered that if Kumar has been found guilty why has he not been suspended from the position. They find demotion a soft punishment.
He has served as MD of the bank for more than 3.5 years. Dismissed MD’s loyalists allege that due to Kumar’s worsening relation with the Chairman of State Cooperative Bank Dan Singh Rawat as well as with State Cooperative Minister Dhan Singh Rawat, this action against him has followed.
Kumar is also accused of the irregularities that took place in his tenure at the Tehri DCCBs when he was the secretary of the bank.
Efforts to elicit Kumar’s reaction have failed so far. We hope to know his version of the story sooner than later.