Question : BANKRUPT COOPERATIVE BANKS



(a) whether the Government are aware that a number of district Central Co-operative Banks in Madhya Pradesh have gone bankrupt;

(b) whether the Government are aware of embezzlement in Apex Bank of Madhya Pradesh;

(c) if so, the details thereof; and

(d) the reasons for not taking any decision on these pending cases?

Answer given by the minister


THE MINISTER OF STATE IN THE MINISTRY OF FINANCE AND COMPANY AFFAIRS (SHRI ANANDRAO VITHOBA ADSUL):

(a) National Bank for Agriculture and Rural Development (NABARD) has reported that as per available information, none of the 38 District Central Co operative Banks in Madhya Pradesh has been declared as bankrupt.

(b) to (d) NABARD has reported that during December 2002, Madhya Pradesh State Co-operative Bank had detected two fraud cases involvtng an amount of Rs. 9.80 lakh in its two branches. In another case, the bank had filed a case against one of its borrowers for committing a fraud of Rs. 13.10 lakh. The bank had conducted detailed investigations into the fraud cases. On the basis of its findings, the bank has initiated disciplinary action and criminal proceedings against the officials/party concerned.