Pratapgarh District Cooperative bank’s branch manager Shyam Singh has been suspended for his involvement in financial irregularities. The accusation against him is that he granted a loan of Rs 4.65 lakh in collusion with the Secretary of Sadhan Sahakari Samiti Daudpur without taking approval from the higher officers.
He was the branch manager of Dhakwa Bazzar branch of the bank. The scam came to light when the officers counted the money and found Rs 7.50 lakh rupees missing. Such cases of irregularities in cooperatives banks are on the rise, say insiders.
The bank General Manager D R Singh informed that branch manager Shyam Prasad has been suspended and also given a notice to give explanation.