Himachal Pradesh News
Himachal Pradesh : BJP to Take Baghat Urban Cooperative Bank Irregularities to Union Minister
BJP to approach Union Cooperative Minister over alleged Rs 120 crore NPA scam in Solan-based Baghat Urban Cooperative Bank as RBI caps withdrawals, leaving 80,000 depositors in distress.
The Bharatiya Janata Party (BJP) has decided to approach the Union Minister for Cooperation to seek a high-level inquiry into alleged financial irregularities at the Solan-based Baghat Urban Cooperative Bank Limited, where the Reserve Bank of India has imposed restrictions on withdrawals following a financial crisis.
Addressing mediapersons here on Tuesday, BJP spokesperson Rajinder Rana termed the situation “deeply alarming”, stating that the bank’s non-performing assets (NPA) have touched Rs 120 crore, yet major loan defaulters allegedly continue to evade action due to political patronage.
“It is shocking that a small cooperative bank has 499 defaulters with NPAs amounting to Rs 120 crore. Despite clear irregularities—such as loans being sanctioned against the same property multiple times—no concrete action has been taken against erring officials or the bank’s management,” Rana said.
Coming out strongly in support of depositors, Rana questioned the status of action against loan defaulters against whom arrest warrants had reportedly been issued. He alleged that many defaulters were allowed to go scot-free after paying merely a few thousand rupees against defaults running into crores.
He further alleged that the police were under pressure not to arrest influential defaulters, claiming that Superintendents of Police from three districts were at odds while attempting to execute arrest warrants.
According to Rana, political interference has enabled defaulters to escape recovery proceedings, while nearly 80,000 depositors have been left helpless, unable to withdraw their own savings even for emergencies.
Drawing parallels with the Kangra Central Cooperative Bank, Rana said controversies related to its one-time settlement scheme and the disbursement of funds to mahila mandals had earlier tarnished its reputation. He added that although the cooperative portfolio is formally held by the Deputy Chief Minister, all cooperative banks are effectively controlled by the Chief Minister, raising serious questions about accountability.
