Amid the Rs 91 lakh fake gold loan scam that has shaken the cooperative banking sector, the Chief Executive Officer of Kalyan Janata Sahakari Bank, Anant Kulkarni, has confirmed that strict action has been initiated against those involved.
Speaking to Indian Cooperative, Kulkarni said, “Yes, we have filed an FIR against the 42 individuals who were involved with malafide intention, and we have already made a provision of Rs 91 lakh.”
The fraud came to light after a re-verification of gold pledged across 41 loan accounts at the bank’s Warje and Bibwewadi branches revealed that the ornaments kept as collateral were completely fake. Based on earlier certification by the then gold valuer, loans totaling Rs 91 lakh had been sanctioned at an annual interest rate of 8.5%. The accounts later turned into non-performing assets.
Kulkarni emphasized that the bank has taken prompt corrective measures to safeguard depositor interests and has strengthened its internal verification processes to prevent such incidents in the future.
