A major financial scandal has emerged at the Arunachal Pradesh State Cooperative Apex Bank, centering around its Roing branch, which is implicated in a Rs 14 crore loan fraud. This scheme allegedly involved significant misuse of the Kisan Credit Card (KCC) facility, flouting established banking protocols and raising alarms at the highest levels of the institution.
The controversy is largely focused on M/s Hapi Enterprise, a KCC account holder that reportedly received loans far exceeding the Rs 3 lakh limit set by the scheme. These disbursements took place over several months, from February to August 2024, without the necessary documentation or compliance with eligibility requirements.
In response to these serious allegations, branch manager Anisha Apum, who is married to Dambuk MLA Puinnyo Apum, has been suspended following a show-cause notice issued on April 27. This action reflects the increasing scrutiny and public anger regarding ongoing financial irregularities within the bank.
Apex Bank’s Managing Director, Bittu Kri, confirmed the seriousness of the situation, stating that the Roing incident is part of a wider problem. “Over 100 similar cases have been uncovered across our branches, with some involving even larger amounts,” he noted.
At present, the Apex Bank is grappling with a financial crisis, as its non-performing assets (NPAs) have reached Rs 121.94 crore, accounting for 31% of its total lending portfolio. Insiders suggest that the bank’s daily operations are now heavily reliant on capital from depositors and emergency funding from the State Bank of India.
Original Source: https://www.indiatodayne.in/arunachal-pradesh/video/arunachal-rs-14-crore-loan-scam-rocks-roing-apex-bank-manager-suspended-1213095-2025-05-13?utm_source=rssfeed
Category:
Tags:
Publish Date: 2025-05-13 22:02:00
