TNR News Network
Dharamshala:
The Enforcement Directorate (ED) has launched an investigation into alleged irregularities in the Kangra Central Cooperative (KCC) Bank Limited’s One Time Settlement (OTS) scheme, where massive loan waivers were granted.
According to sources, the ED has served a notice to the KCC Bank management, directing it to submit all relevant records by September 26, 2025.
The move has rattled several beneficiaries of the OTS scheme who had secured hefty loan write-offs. Political tremors are expected as some of the waivers could be linked to the ruling party.
Bank officials confirmed that the ED sought details of loans that had dealt a blow to the bank’s financial health.
This is not the first time the KCC Bank has faced controversy. Earlier, the Board of Directors was suspended over alleged violations of NABARD and Reserve Bank of India (RBI) regulations. The latest ED action has revived questions about the bank’s governance and political interference.
BJP legislator from Dharamshala Sudhir Sharma has already demanded a fair and transparent investigation into the matter.
Meanwhile, Managing Director Sandeep Kumar, speaking to a news outlet, said the bank would provide all documents to the ED within the stipulated timeframe.
