The Karnataka assembly was told recently that an audit of the Sri Guru Raghavendra Sahakara Bank Niyamitha (SGRSBN) in Bengaluru revealed that Rs 1,480 crore has been swindled, reports Indian Express.
BJP MLA Ravi Subramanya had raised the question about the fraud in the assembly. It is said the bank is liable to pay Rs 2,073 crore and Rs 375 crore as an interest to 994 fixed deposit holders.
It is worth mentioning that in 2020 the RBI had imposed a withdrawal limit of Rs 35,000 citing the bank’s bad loans-the amount was raised to Rs 1 lakh later.