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AP CM calls for thorough probe into Krushi Bank muddle

Syed Amin Jafri in Hyderabad

Chief Minister N Chandrababu Naidu has asked chief secretary P V Rao to conduct a thorough probe into the Krushi Bank muddle, including the role of the officials of the Registrar of Co-operative Societies, other departments and Reserve Bank of India in preventing the defalcation of funds of the bank.

Naidu, who reviewed the Krushi Bank scam at a meeting on Sunday, told the chief secretary to examine whether any government funds were deposited in the private banks against norms and rules, and take action against the erring officials.

The chief minister also asked the chief secretary to draw up a time-bound action plan to study the working of all co-operative banks to ensure the safety of deposits of the customers in the wake of Krushi Bank scam. He also directed the chief secretary to study the working of chit fund companies after the new Chit Fund Act came into force.

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