Srijan: Co-op banks’ role under lens

Role of co-op banks based in Bihar has come in sharp focus when the skeletons of Srijan scam began to tumble out. Altogether 14 cases of illegal transfer of government funds to Srijan Mahila Vikash Sahyog Samiti (SMVSS) in Bhagalpur, Banka and Saharsa districts have been lodged so far.

The FIRs show that Rs 831.35 crore was transferred into the different bank accounts of SMVSS founded by Manorama Devi allegedly for the uplift of women in the society. The CBI is trying to find out whether the scam had started before 2007 or after, says a TOI report.

A source is quoted saying Rs 50.95 crore was fraudulently transferred from the Bhagalpur Central Cooperative Bank into the Srijan’s bank account. Out of this amount, Rs 2 crore was returned to the government bank accounts while Rs 48.95 crore was lost.

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