Co-op Bank scam of Rs 800 cr rocks Odisha Assembly

A man known for unmasking quite a few scams in Odisha including sapling and Omfed scams, former Cooperation Minister Damodar Rout has recently yet again given an inkling of a scam in Cooperative bank loans, reports

According to the BJD leader, the scam involves a little less than Rs 1000 crore.

On Monday the Odisha Assembly had to be adjourned as the Opposition parties’ members rushed to the Well of the House and raised slogans against fuel price hike and alleged cooperative bank scam.

The BJP members also raised the alleged Omfed and Cooperative Bank scams in the State.

Quoting Rout the report says while 60% loan from the bank was given for non-agricultural purposes, the rest 40% remained only on paper.

Cooperation Minister Surya Narayan Patro has denied Rout’s allegations saying loans are being sanctioned following the required norms. However, the incumbent cooperative minister chose to remain mum on the former cooperative minister’s reference to the godfather dimension to the scam.

Meanwhile, opposition Congress has supported Rout saying there must be a grain of truth to his allegation.