Bhubaneswar: The Odisha Government today admitted financial irregularities of Rs 3579.81 lakh in the cooperative sector involving the State, central, and urban cooperative Banks and other agencies.
Replying to a written question by Soumya Ranjan Patnaik, Cooperation Minister Atanu Sabyasachi Nayak informed the Assembly that the fraud amount stands at Rs 1733.96 lakh in State and central cooperative banks while the amount of irregularities in urban cooperative banks is 1845.85 lakh.
The irregularities have been reported from 2018 to till date, the minister said.
As per the provisions of Orissa Co-operative Societies Act, 1962, annual and special audits are conducted to find out the loan and other financial irregularities.
During the audit, the amount of fraud and other details are divulged.
Based on the particular evidence, departmental proceedings are initiated against those who are found involved in the fraud.
Action is also taken against them as per the rules enshrined in Orissa Co-operative Societies Act, 1962. If required, civil case is filed against them in the court.
