A random investigation into disbursement of loans under schemes such as farmer loan waiver and debt relief has brought a major cooperative scandal to light in Rajasthan.
There are allegations that Ajmer central cooperative bank has indulged in irregular financial transactions involving nearly Rs two crore. Nabard had asked all the 29 central cooperative banks in the state to conduct a thorough re-verification of the scheme.
Under the scheme about Rs thousand crore had been distributed in the state. Most of the amount has been disbursed through fictitious accounts and without proper documentation.
Several important documents are missing and a number of coop bank functionaries are directly involved in the crime.
Sources say an embezzlement of funds on this scale shows all is not well with the cooperative sector in Rajasthan.