Three employees, including the branch manager, of Koraput Central Cooperative Bank (KCCB), Kalimela branch, in Malkangiri district were suspended from service on Thursday for allegedly siphoning off farmers loan worth crores, reports TOI.
On the basis of fake papers and fictitious signature of farmers the trio branch manager Ramesh Chandra Parmanik, accountant Kishore Bisoi and cahier Bhupendra Narayan Mohanty distributed the money among themselves.
Of the Rs 4.79 crore loan disbursed among 801 farmers only Rs 1.12-crore loan could be recovered from farmers. “There were allegations regarding misappropriation of over Rs 3-crore loan and an inquiry was ordered.
The inquiry report revealed that the three suspended officials had prepared fake documents to withdraw the loan amount. The suspended trio put fake signatures of the farmers on bank documents and misappropriated Rs 3.67 crore, he added.