Himachal Pradesh based Kangra Central Cooperative Bank has terminated the services of 224 advocates due to financial losses.
Kuldeep Singh Pathania, the newly appointed Chairman of KCC Bank, shared the information.
Pathania said that the bank management has spent a huge amount on the services of these advocates. Loans worth crores of rupees are lying with the defaulters. Due to this the NPA of the bank was increasing.
The Chairman has given instructions to investigate the matter of wrongful allocation of loans worth crores of rupees. Following investigation, strict action will be taken against managers of branches from where loans have been allotted.