Punjab minister assures assembly of an investigation into Hindu Cooperative Bank fraud

Punjab Cabinet Minister Sukhjinder Singh Randhawa has given the assurance to the assembly regarding a investigation into the fraud in Hindu Cooperative Bank, Pathankot.

“The bank has turned into a non performing asset (NPA) and an FIR has been lodged against its managing director,” Randhawa said during the Question Hour.

The minister had further stated that the Hindu Cooperative Bank in Pathankot received the initial six month cash withdrawal limit enhanced from Rs 4,000 to Rs 10,000 on September 24, 2019, and Rs 15,000 on January 13, 2020, by its improved performance.

“It has been successful in making loan recovery of Rs 38 crore by following RBI guidelines,” Randhawa said.

The chief minister Amarinder Singh also assured the House that his government would soon introduce a policy to compensate farmers whose lands are used by the Punjab State Transmission Corporation Limited for installation of towers.