Srikakulam District Cooperative Central Bank (DCCB) has ordered an inquiry over mortgage loans through fake pattadar passbooks at the main branch. As many as six persons availed loans amounting to Rs.15 lakh loans by misleading the bank officials.
Srikakulam DCCB chairman Dola Jaganmohana Rao and Chief Executive Officer D.Varaprasada Rao said the fraud could have taken place with the non-availability of cross-checking mechanism. They said the bank would thoroughly conduct a probe in all the Primary Agriculture Cooperative Societies which were authorised to disburse loans up to Rs.1 lakh.
“As many as 1.13 lakh farmers took loans from us. All their details will be verified through web facility. The process will be completed by August 31, 2015,” said Mr.Jaganmohana Rao.
