Govt asks EOW to probe financial irregularities in OSCB

Odisha government today asked the Economic Offence Wing (EOW) of Crime Branch of state police to probe into financial irregularities to the tune of Rs 29.57 crore in Odisha State Cooperative Bank (OSCB), Rourkela.
An estimated amount of Rs 29.57 crore worth irregularities at the Rourkela branch of the OSCB was detected between 2005 and 2015.
"We have asked the EOW of the Crime Branch to probe into the irregularities detected during a special audit, Cooperation minister S N Patro told reporters.
The minister said the department has also ordered the OSCB registrar to initiate proceeding against all the accused persons and initiate legal action against erring bankers.

On official statement issued by the minister said that a special public prosecutor will be appointed to start trial against the loan defaulters and legal process initiated soon to attach their properties.
The minister said the special audit report has also recommended recovery of money from three former branch managers Siba Kumar Das, Sanjeeb Mishra and Raghunath Sahoo respectively. These three managers had disbursed loans without keeping required surety.
Meanwhile, Raghunath Sahu, one of the accused manager said: "I have not committed any irregularities. We have to verify the basis of the special audit."
Earlier, the cooperation department had also handed over a similar fraud case in Malkangiri district to the EOW of Crime Branch.