While conducting a thorough inquiry into Tirupati based TTD Employees Cooperative Bank, Divisional Cooperative office found 9 excess staff appointed without requisite qualification, reports HansIndia.
Earlier, some employees of the bank had submitted a representation about irregularities in recruitment of the staff. There were also complaints about salaries being paid to some staff members in violation of the Cooperative Act.
The Bank was established more than 50 years ago and its annual turnover is nearly Rs 48 crore. More than 8,000 members are shareholders and they are investing funds in the bank.
The audit officials have already submitted their findings to the TTD EO.