FIR against 2 rural bank managers

CHIEF DEVELOPMENT Officer and officiating district magistrate Bhav Nath Singh has ordered an FIR against two managers of Khsetriya Gramin Bank of Kotwa and Mailhan branches following the allegation of realising more interest than the prescribed rate under Swarn Jayanti Gram Swarojgar Yojna.

CHIEF DEVELOPMENT Officer and officiating district magistrate Bhav Nath Singh has ordered an FIR against two managers of Khsetriya Gramin Bank of Kotwa and Mailhan branches following the allegation of realising more interest than the prescribed rate under Swarn Jayanti Gram Swarojgar Yojna.

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According to the CDO, several irregularities had been detected against both officers. Both the branch managers allegedly realised interest at the rate of 11 per cent instead of the prescribed rate of 8.5 per cent per annum. They also violated the subsidy norms. Terming the flouting of norms as a serious matter, the CDO ordered an FIR against the officials.

Later, while reviewing the loan realisation progress at the meeting, the CDO urged the bankers to take interest in agricultural-based loans and follow the latest guidelines issued by the Reserve Bank of India. Addressing the meeting, the CDO instructed the officers not to show any laxity in sanctioning loan. He reviewed dozens of schemes during the meeting.

NABARD DGM Mohammed Isamail, Reserve Bank of India Assistant Manager P Karketa, Regional Manger Bank of Baroda M Mandal, DRDA project director Narendra Shankar Mishra and Institutional Finance officer SK Puri among others attended the meeting.