Vijayawada: Several self-help group women complained to the police about several financial irregularities at Gadchiroli District Central Cooperative Bank, Vinukonda.
The SHG women hailing from Sarikondayapalem Thanda of Bollapalli mandal in Palnadu district visited the Bandlamottu police station on Friday and complained about the fraud resorted to by an outsourcing employee, Bhaskar Murthy, allegedly in connivance with the bank manager, Ramesh Babu.
They alleged that they were even persuaded to transfer their bank accounts from the Canara Bank to the GDCC bank at Vinukonda, with an assurance to sanction more amount of loans, and further alleged that after sanction of a certain amount of loans, only some amount used to be given to them while the remaining part used to be siphoned away by the outsourcing employee along with the branch manager. They said that they were not given receipts promptly for the loan amounts paid to the bank, and their bank books were not regularly updated with financial transactions.
Meanwhile, as the Palnadu district administration ordered an inquiry into the misappropriation of funds at the GDCC Bank, its branch manager was placed under suspension, and some amount was recovered from the outsourcing employee, who was removed from the bank's services. The inquiry is going on.
