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November 21, 2018

Anti-fraud cell to protect cooperative banks

Anti-fraud cell to protect cooperative banks

The State Government is coming up with an anti-fraud cell headed by a judicial magistrate to check incidents of fraud at cooperative banks across the State.

This was stated by the Cooperation Minister in the State Assembly on Monday, November 19.

He said that during the Left Front regime many cooperative banks were involved in financial irregularities. The Trinamool Congress Government, under the leadership of Chief Minister Mamata Banerjee, has been taking various preventive measures in this regard.

Referring to the FRDI Bill, he said, “This Bill is destructive. The savings of common people are no longer secure in banks. People will face economic insecurity. We must strengthen the protests against FRDI Bill.”

Later in the day, the minister told the Assembly, “In the current fiscal the cooperative banks have disbursed short-term loans worth Rs 5713.27 crore and long-term loans worth Rs 230.34 crore. That apart, more than one lakh families have been given Rs 180 crore for animal rearing. More funds will be allocated for the same.”

Source: Millennium Post