Government Affirms Zero-Tolerance Policy on Cooperative Society Fraud

The Modi government commits to preventing fraud in cooperative societies, asserting that no political affiliation will shield culprits. Cooperative societies under scrutiny face liquidation, with stringent measures enacted to prevent fraud and protect depositors’ money. Specific steps have been implemented to ensure transparency and enhance sector growth.

The Modi administration has underscored its unwavering commitment to eradicating fraud within cooperative societies, as affirmed by Minister of State for Cooperation, Krishan Pal, in the Rajya Sabha on Wednesday. He stressed that political ties will not shield anyone from scrutiny or action.

Amid questions in the Upper House about possible delinquencies in multi-state cooperative societies, Pal highlighted several measures taken since the current government assumed power. He assured strict action against any individual or group engaged in fraudulent activities, emphasizing ongoing efforts to uphold integrity.

Against a backdrop of growing inquiries, members sought clarity on CBI investigations and protective steps for depositors. The government outlined strategies like concurrent audits and the formation of a cooperative ombudsman to boost transparency and accountability across the sector.

(With inputs from agencies.)