Imphal Urban Co-operative Bank Share-Holders Development Union has made allegations that the bank’s General Manager and others have indulged in financial irregularities in violation of the general guidelines of the Reserve Bank of India, reports E-Pao.
Talking to journalists, President of the Union said , General Manager and a junior manager of the bank have bungled over investment of more than Rs 1000 crore.
The Union has not only demanded an immediate enquiry into misappropriation but also suspension of the two persons.
It has been two years that the Board of Directors of the bank has not been elected.
Knowledgeable sources say this is due to the fact that Managing Director G Tharaksana Devi does not like the Board of Directors to interfere with how she manages the bank.