Delhi Nagrik Sahakari Bank has indulged in wrong practices such as making new members and breaching the KYC norms, said the bank’s ex-Vice-President M.K Bansal while addressing a press conference in New Delhi.
He accused the former chairman Jai Bhagwan of being allegedly involved in printing of bogus membership forms and making relatives, friends and others as the members of bank. The former chairman also disbursed loans against fake documents and manipulated the process of recruitment of employees in the bank, he said.
He further said in the 2014 the Registrar of Cooperative Society appointed Administrator in the Bank because of some irregularities in conduct of the election process that led to the setting aside of the election.
The bank’s Vice President demanded that there should be a CBI inquiry in the matter and the accused should immediately be punished.
While talking to this correspondent the Bank’s CEO Upendra Garg said “Probe is already going on and we have submitted the related documents to the concerned department”.
Meanwhile, the ex-chairman of the bank Jai Bhagwan has denied allegations saying some people have been active tarnishing my image after the election.
I have been associated with the bank since 1985 and I became its Vice Chairman in the year 2011. I am proud to say I have had a long relation with the bank, said Bansal in the press conference.
The bank has 14 branches in the Delhi Capital Region with 1.5 lakh customers. Ashok Dabbas, the former GC member of NCUI and other members including some of the bank’s directors were present on the occasion media interaction.