Srinibas Mantri, Secretary of Ostia SCS under Central Co-Operative Bank Ltd., Saranda Branch, Banki, has been arrested by Odisha Vigilance authorities on charges of embezzlement.
Mantri stands accused of siphoning off Rs. 11,83,718 from loan repayments made by 59 farmers, which were not recorded in the official daybook of the society.
The arrested officer allegedly collected loan repayments over two years from farmers who had availed crop loans but failed to account for the collected amounts in the official registers. The suspicious irregularities were reported to Vigilance authorities by concerned farmers, leading to an inquiry into the matter.
Upon investigation, it was discovered that Sri Mantri had misappropriated significant sums of money from the loanees. Odisha Vigilance has registered a case against the accused under various sections of the Prevention of Corruption Act, 1988, and the Indian Penal Code. The investigation is ongoing, and the number of affected loanees may increase as the probe continues.
Mantri is set to be forwarded to court today. Further updates on this developing story will be provided as the investigation progresses.
