People hit streets in protest against Rs 4 crore cooperative bank fraud in HP's Sirmaur

Nahan (HP), Aug 23 (PTI) Hundreds of people on Friday took out a protest march against the alleged embezzlement of more than Rs 4 crore in Himachal Pradesh Cooperative Bank branch in Sirmaur district's Nohradhar village, located 95 km from here.

The protesters, including bank customers, and political and community leaders, raised slogans against the bank management and demanded immediate release of their hard-earned money.

They alleged that the fraud was committed by an assistant manager of the bank, who had opened fictitious loan accounts in the names of several people and embezzled crores of public money without the involvement of other employees. Claiming the fraud went on for more than a decade, the protesters questioned that how is it possible that the bank auditors, who regularly visit every branch of the bank, did not detect this embezzlement earlier. "Bank authorities have put all kinds of transactions on hold in this branch in the name of special audit and inquiry. This has caused more trouble for people, who are in need of their money to meet family emergencies or for other reasons," the protesters said, demanding that monetary transactions should resume in the bank branch immediately.

"Due to stopping of transactions, depositors have become more anxious and fearful about the security of their hard-earned money," Suresh, one of the protesters, said.

Narayan Singh, senior BJP leader of the district, has demanded a high-level inquiry into the matter, which, he claimed has "broken people's confidence in cooperative banks".

"It should be probed that how the accused assistant manager was posted here again and again since 2012," Singh said, adding that the conspiracy behind this embezzlement should be unearthed.

Singh said the bank authorities must ensure that all the depositors receive their money back as most of the local people are poor.

The protesters also handed over a memorandum addressed to Chief Minister Sukhvinder Singh Sukhu to Sub-Divisional Magistrate (SDM), Sangrah, Sunil Kaiath.

The SDM assured corporation of the local administration to the bank customers and depositors, saying such unfortunate episodes shake the confidence of common people in the banking system. PTI COR BPL BHJ BHJ