Scam: OSCB gives Rs 29 cr loan without collateral

The Economic Offences Wing (EOW) has taken into custody an assistant GM of Odisha State Cooperative Bank (OSCB) for allegedly swindling an amount of Rs 29 crore in the Rourkela branch of the bank, reports New Indian Express.

The accused disbursed loans without collateral to the tune of Rs 28.89 crore, violating all banking and cooperative norms.

Crime branch officials say, as many as 1,250 loan files have been recovered by the Economic Offences Wing (EOW) and a case has been registered .

The department of cooperation had earlier lodged the complaint.

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