Fake gold: Arani bank MD shifted

The MD of the Arani Cooperative Town Bank Kalyan Kumar was shifted and two staffers identified as Saravanan and Jagadish were suspended following the detection of gold loans being issued for covering jewellry, sources said.

migrator

Updated:28th Oct, 2021 at 2:59 AM

Tiruvannamalai

The issue came to light when officials started checking the gold loans issued by the bank following Chief Minister MK Stalin waiving gold loans issued for 5 sovereigns. The inspecting officials found that not only were loans issued to 77 beneficiaries for a total of Rs 2.39 crore for gold-plated jewellry, in many instances, the weight of the pledged gold was also less.

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Fake gold: Arani bank MD shifted

The MD of the Arani Cooperative Town Bank Kalyan Kumar was shifted and two staffers identified as Saravanan and Jagadish were suspended following the detection of gold loans being issued for covering jewellry, sources said.

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