Top functionaries of the Cooperation department are investigating an alleged loan fraud worth Rs 2.79 in a cooperative bank in Gudiyatham in Vellore district in Tamil Nadu, reports New Indian Express.
Some self-help group (SHG) members had revealed the scam.
It is said a woman manager swindled large amounts of money by giving loans in the name of SHG leaders.
Investigation is being conducted under section 81 of TN cooperative societies Act.