Shocking: More than Rs 9,000 crore deposited across cooperative banks of the country after demonetization
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District central cooperative banks in India have been a bad shape since quite some decades. However, thanks to Suffering from losses since quite some time, DCCBs are infamous for accumulated losses and large non-performing assets.
"For many years, DCCBs have been hunting grounds for politicians who open accounts in the name of farmers and use them for money laundering,'' former
Officials have particularly expressed surprise about the deposits of over Rs 1,800 crore in
"The DCCBs in Kerala mostly serve marginal farmers and small businesses. It is worth investigating how these loan-dependent depositors deposited Rs 1,810 crore in a matter of five days," a top bureaucrat told TOI.
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Ditto in
"Farmers in Maharashtra are consuming pesticide as they are unable to repay loan sharks... The deposits reveal how the institution of the
(image: BCCL)
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