Irregularity worth Rs 278 cr found in Mumbai DCC Bank: Min

Maharashtra government today admitted in the state Legislative Assembly that irregularity to the tune of Rs 278 crore has taken place in transactions of Mumbai District Central Co-Operative Bank (MDCCB).
Replying to a query raised by Prakash Surve of Shiv Sena and others during the Question Hour regarding irregularities within MDCCB, state Minister for Co-operation, Marketing and Textiles and Public works, Chandrakant Patil informed that District Deputy Registrar Co-operative Societies (Mumbai Suburban West) in its internal report filed in December, 2013, found irregularities in large scale in the banking transactions.
The auditor found irregularities to the tune of Rs 278 crore that included giving bank premises on lease, purchase of land worth Rs 1.23 crore, disbursement of loan and its recovery that accounted for Rs 112.94 crore, computer purchase worth Rs 4.53 cr and waiving off loan of Rs 137.27 crore to Madhya Pradesh Industrial Corporation Ltd.

On receipt of final audit report from Divisional Joint Registrar Cooperative Societies, the government has initiated legal action against the Bank, the minister said.