Bhubaneswar: Odisha Vigilance officials on Saturday arrested Srinivas Mantri, Secretary of Ostia SCS under the Central Co-Operative Bank Ltd, Saranda Branch, Banki in Cuttack district, for allegedly misappropriating Rs 11,83,718 in loan repayment amounts collected from borrowers.
Mantri failed to record the repayments in the Day Book of Ostia SCS, despite receiving the funds from loanees on various dates.
According to an official press release, the bank provides loans to eligible borrowers across various sectors. The affected loanees, primarily farmers, had availed crop loans from the bank and repaid the amounts over two years. However, Mantri deliberately omitted these repayments from the official registers, concealing the transactions.
The irregularities came to light when some loanees discovered discrepancies and reported the matter to the Vigilance authorities, accusing Mantri of misconduct. Following the complaint, Odisha Vigilance initiated an investigation. The probe revealed that Mantri had siphoned off Rs 11,83,718, which was repaid by 59 farmers over the two-year period.
