Former Vidisha co-op bank prez found guilty

BHOPAL: Former president of Vidisha Co-operative Bank and BJP leader Shyam Sunder Sharma had sanctioned a loan of Rs 73.25 lakh to his wife violating the bank norms. Commissioner, Co-op MK Agarwal found Sharma guilty of financial irregularities and asked the joint-commissioner to lodge an FIR against former president. Sharma, CEO Vinay Singh and the bank manager are the main accused in this case.

Sharma had sanctioned personal loan of Rs 73.25 lakh to his wife, Uma Devi Sharma. But, according to the norms Rs 60 lakh is the limit of personal loan. He not only sanctioned the loan on February 13, 2018 but also transferred Rs 50.73 lakh into the account of Mrs Sharma on December 1, 2017. It is claimed that Sharma also violated other norms of the bank, as the director, board members and their family members or their associated organisations are not eligible for the loan. Similarly, the bank director cannot participate in loan sanctioning process if his/her kin are being benefited. The commissioner has asked the joint commissioner of Bhopal cooperatives to file an FIR against Sharma for the irregularities.

(To download our E-paper please click here. The publishers permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

Free Press Journal