Scandal Unfolds: Loan Disbursement Controversy Hits Himachal Bank

Himachal Pradesh vigilance and anti-corruption bureau has charged Kangra Central Cooperative Bank officials for unlawful loan disbursement. Allegedly disregarding RBI standards, they facilitated a Rs 20 crore loan to businessman Yudh Chand Bains. An in-depth probe continues, with accusations including cheating, forgery, and criminal conspiracy.

The Himachal Pradesh vigilance and anti-corruption bureau has initiated legal action against the Kangra Central Cooperative Bank Ltd (KCCB) officials. They are accused of bypassing RBI protocols to grant a Rs 20 crore loan to a local businessman.

Businessman Yudh Chand Bains, who owns Himalaya Snow Village and Hotel Lake Palace, is implicated in multiple loans received under suspicious circumstances. The bank allegedly ignored its policies and RBI and NABARD guidelines.

An extensive inquiry led to the registration of a case under multiple sections, including cheating and conspiracy, marking the beginning of a deep investigation into the alleged misconduct.

(With inputs from agencies.)