Home » KCP refutes IUCB clarifications

KCP refutes IUCB clarifications

by IT Web Admin
0 comment 2 minutes read

Imphal, March 9: Armed rebel group Kangleipak Communist Party (KCP) while refuting the clarification by G. Tharaksana Devi, General Manager of Imphal Urban Co-operative Bank (IUCB) and Ng. Priyogopal Singh, Manager Banking of the said bank in a press conference held on March 7 said that the clarification is nothing but to conceal their misdeed.
In a press statement signed by Member in charge of Information and publicity, the outfit said that the ban by RBI was not mainly due to the rise in the Non-Performing Asset. But the major reason was because of the meeting of the TAFCUB (Task Force Co-Operative Urban Bank) which resolved to keep the IUCB under SAF (Supervision Action Framework) following the rating of ‘D’ on CAMELS (Capital Asset Manager Earning Liquidity System) in the RBI inspection report.  
Reminding the misappropriation by GM Tharaksana and Manager Banking Ng. Priyogopal, the KCP said that the two persons – in violation of the SLR (Statutory Liquidity Ratio) under the RBI Investment rules had invested the Security Purchase and Sales Investment. Following this a 3 member committee headed by A Somorendro as Chairman conducted an enquiry and as per the finding both were put under suspension. The statement also stated on how the two had misappropriated the bank money in violation the RBI regulations. When the mode of punishment have been under consideration, an appealed for reinvestigation of the case was received. Meanwhile, GM retirement was on Feb 28, 2018 and taking advantage of this the GM suspension was revoked. Without clearing the Pay, Pension and Gratuity, Tharaksana was restored to her post. But in contrast to the decision which said that all necessary payment related to Tharaksana will be made after departmental enquiry by an expert committee, the ban against her has also been revoked by concealing the misdeed by using RCS.
The statement said that the clarification by the two is seriously noted by the KCP and said the outfit will not keep silence into the matter.

You may also like

Leave a Comment


Imphal Times is a daily English newspaper published in Imphal and is registered with Registrar of the Newspapers for India with Regd. No MANENG/2013/51092


©2023 – All Right Reserved. Designed and Hosted by eManipur!

Adblock Detected

Please support us by disabling your AdBlocker extension from your browsers for our website.