AR Nagar Bank | Screengrab: Mathrubhumi News
Malappuram: The AR Nagar Cooperative Bank has initiated mass transfer of employees after facing severe allegations of irregularities. A total of 23 employees, including those who gave statements against the malpractices, were transferred. The chief accountant was also demoted.
The staff, including the chief accountant of the main branch and 8 branch managers, were transferred. As per reports, all employees except for three were transferred from the branch. Meanwhile, the staff alleged that the action was taken to take revenge against those who gave statement against malpractices in the bank.
The bank administrative panel explained that they transferred the staff as per the direction of the cooperative registrar. It was directed that those who have been working in the same branch for over two years should be transferred. Some more employees are yet to be transferred, they added.
It was alleged that black money deals worth over Rs 1021 crore had taken place in the bank within the last 10 years. Former minister K T Jaleel raised the allegation first against Muslim League leader P K Kunhalikutty and his son.
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