NEWS & ADVICE : PERSONAL LOAN
Apex Cooperative Bank irregularities alleged by PIL
By Vaibhav Aggarwal
Nov 25, 2013
Print    Email    RSS   

Notices have been issued by the Bombay High Court as a response towards the litigations of public interest regarding the irregularities of Rs. 1,500 crore to the Co-operative department of Maharashtra and it's director. Yesterday the PIL was heard by Justice SF Vajifdar who headed the division bench. looked for answers in two weeks.

They need errand of a chairman and an analysis. MDCCB offered advances to helpful social orders in violation of principles and as a rule borrower defaulted, the request says. In a few cases credits were propelled regardless of unfriendly reports by advance investigators of MDCCB or they were authorized without any assessment report whatsoever, the applicants assert.

Before the loans were sanctioned to the employees of the women's cooperative bodies and cooperative credit society, the verification of the actual functioning of the borrower institutes were not verified.

Representations to NABARD and RBI did not get any reaction and reports of test led by NABARD and state collaboration division were not made open, the PIL says.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Personal loans in India: Features and...
Need of Financial inclusion: making the...
Winning in Emerging Markets by Tarun...
Carnival of Indian Personal Finance Blogs #4
Do rising NPAs reflect an ailing banking...


Model Escoℛts Service In Pune 8888IOO484 Caℓℓ...
What is the outstanding Amount for my personal loan
ho many month balance in My Personal loan

NEWS THIS WEEK
LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive