Kangra Central Cooperative (KCC) Bank, which provides banking services to lakhs of consumers in half a dozen districts of the state, has come under severe crisis. With this, after the bank lost Rs 45 crore for the first time, the Jairam government has issued a special audit order of the bank on the recommendation of the National Bank for Agriculture and Rural Development (NABARD). At the same time instructions have been issued to the Registrar Cooperative Assemblies (RCS). Along with this, in this special audit, more than 1.25 lakh loan accounts of the bank will be audited and the report of the irregularities in it will be submitted to the government. For your information, let us know that after the annual audit for FY 2018-19 by CA firm Dogar & Co on the instructions of RCS, it was revealed that the bank has incurred a loss of Rs 45 crores, although the bank management from the audit The bank had earlier claimed that it had a profit of 65 crores.
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In the audit that the bank management disbursed crores of loans, defying the rules, due to which the bank's non-performing asset (NPA) also turned out to be over 25 percent in the audit. Its truth: The audit report was sent to the National Bank for Agriculture and Rural Development (NABARD), the Reserve Bank of India (RBI) and the Registrar of Co-operative Societies (RCS) .After that, NABARD recently wrote a letter to the state government to conduct a special audit. Was demanded. Only after the recommendation of NABARD, the Jairam government has issued instructions for a special audit.
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Vigilance is also investigating the bank's loan disbursement game for the same crores, as the most shocking thing was revealed in the audit that the bank disbursed its loan of crores of rupees in violation of the bank's loan norms (Exposure Norm). gave. This happened when according to the exposure norm, KCC Bank could only give loans of up to forty lakh rupees to each person, but the bank gave loans ranging from eight to ten crores to the borrowers.
