Excelsior Correspondent
JAMMU, Aug 4: National Conference leader Rajiv Chuni today sought immediate supersession of the Board of Directors of Citizens Cooperative Bank Jammu and demanded probe by Central Bureau of Investigations in view of large scale irregularities and misuse of public money in the Bank.
In a statement, Mr Chuni said that the current Board owes its existence to massive rigging unleashed by People’s Democratic Party and as a consequence the management has gone into the hands of known corrupt, which are not remotely connected with cooperative movement.
Mr Chuni said that the Bank with just eleven branches in the city and its immediate periphery has been overburdened by a superfluous staff in high management cadre, who are engaged in usurping the scarce and hard earned public money for their luxuries.
He urged the Reserve Bank of India for ordering a special audit of all the branches of the Citizens Cooperative Bank, alleging that the money recorded on Bank cash books is not available in the chests. He said the money has been diverted for other purposes thereby jeopardizing the Bank’s financial health and public interest in large.
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