Karnataka Cooperation Minister S T Somashekar said an audit found a scam of Rs 1294 crore in Guru Raghavendra Cooperative Bank, reports Deccan Herald.
The minister held a meeting that discussed the probe into the scam and the measures to be taken to bring the bank to life again.
It is worth mentioning that all the documents of those who availed loans are in the possession of the Enforcement Directorate.
Talking about another scam that hit bank -the Vasishta Cooperative Bank, the minister said the fraud in the bank involved Rs 282 crore.