Bhubaneswar, Jul 31 (PTI) Odisha government has detected misappropriation of funds to the tune of Rs 224.61 crore in different cooperative banks across the state, Cooperation Minister Pradeep Bal Samanta told the Assembly on Wednesday.
The irregularities were detected during audits of Odisha State Cooperative Bank (OSCB), 17 Central Cooperative Banks (CCBs), and 13 Urban Cooperative Banks (UCBs), he said.
In response to a query from Congress member Tara Prasad Bahinipati, Samanta detailed that 1,704 people were implicated in the financial misconduct and the government has begun surcharge proceedings to recover the funds.
He said Rs 16.63 crore has been realised till date while orders have been issued for the recovery of Rs 30.73 crore from 706 persons involved in the fraud.
Additionally, the Odisha government has suspended the management committees of the Odisha State Cooperative Bank Ltd and Odisha Cooperative Housing Corporations Ltd under the Odisha Co-operative Societies Act, 1962.
Two orders issued on Wednesday cited gross irregularities and misappropriation of public money as reasons for the suspension.
Cooperation Department Secretary and Subhra Mohanty, additional secretary of the department, will manage the affairs of the OSCB and Odisha Cooperative Housing Corporations, respectively. PTI BBM BBM MNB
This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.