Bank of Baroda depositing Rs 67.62 lakhs into SHG accounts
By : DC Correspondent
Update: 2024-09-17 19:07 GMT
Kakinada: Bank of Baroda has started depositing ₹67.62 lakh of misappropriated amount into the accounts of Self Help Groups (SHGs) belonging to G. Yerrampalem village in Rajanagaram mandal of East Godavari district.
According to DRDA project director N.V.V.S. Murthy, the bank had appointed a business correspondent named Nani Babu of the village to mobilise deposits, which ranged from Rs 5,000 to Rs 10,000. One day, Nani Babu absconded with the money that SHGs had paid him.
The issue came to light on July 7 when representatives of the SHGs asked bank officials to update their passbooks. They then realised that Nani Babu had not deposited the amount but had vanished with it.
When the matter came to the attention of East Godavari district collector P. Prashanthi, she directed the bank officials to deposit the amounts into the SHG accounts within 45 days.
The DRDA project director said following the directive, the bank has started depositing the total missing amount of ₹67.52 lakh into the 64 SHG accounts. Rajanagaram police have registered a case against Nani Babu and investigations are on.
The issue came to light on July 7 when representatives of the SHGs asked bank officials to update their passbooks. They then realised that Nani Babu had not deposited the amount but had vanished with it.
When the matter came to the attention of East Godavari district collector P. Prashanthi, she directed the bank officials to deposit the amounts into the SHG accounts within 45 days.
The DRDA project director said following the directive, the bank has started depositing the total missing amount of ₹67.52 lakh into the 64 SHG accounts. Rajanagaram police have registered a case against Nani Babu and investigations are on.