For the best experience use inshorts app on your smartphone
₹110-crore misappropriated in Bengaluru bank: State Co-op Minister
short by Indraneel Sen / on Thursday, 15 September, 2022
An audit of Bengaluru-based Shushruti Souharda Sahakara Bank Niyamita has revealed ₹110 crore misappropriation from its deposits, State Minister of Co-Operation ST Somashekar said at the Legislative Council. “However, in its reply, the department said that the bank cannot be listed as bankrupt,” Somashekar said. At the time of audit, the bank had recorded ₹180.77 crore in received deposits.