Kerala: Financial irregularity in UCB

Mavelikkara Taluk Co-operative Bank in Kerala has sacked three employees of its Thazhakkara branch for their involvement in serious financial irregularities, reports Times of India.

Crime branch is investigating the Rs 50 crore scam. A source says the internal auditing revealed the scam.

The fraudsters had faked accounts and taken loans. Gold loans were given without receiving gold articles.

 

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