According to New Indian Express reports the Directorate of Cooperative Audit has detected discrepancies in accounts of the Odisha State Cooperative Bank (OSCB) coming to light during the internal audit.
The reconciliation of branch adjustment accounts between the head office (HO) and branches was not being regularly carried out.
While checking the trial balance of April, the audit found an amount of Rs 109.55 crore as credit balance under the head of suspense recoverable and Rs 13.66 crore as debit balance under the head of Dividend Unclaimed.
The audit has suggested necessary changes in the software being used by the bank.