On Priyanka Gandhi’s nudge, Karnataka govt mulls SIT probe into cooperative banks scam

Bengaluru: The Congress government in Karnataka is planning to constitute a special investigation team (SIT) to probe alleged scams in Bengaluru-based cooperative banks.

According to Deputy Chief Minister DK Shivakumar, the alleged scam have the involvement of BJP leaders. Shivakumar was referring to financial frauds at Sri Guru Raghavendra Sahakara Bank, its sister concern Sri Guru Sarvabhauma Souharda Credit Cooperative Ltd and Sri Vasista Credit Souharda Sahakari Ltd. These banks come under the Bangalore South Lok Sabha seat.

On Wednesday morning, a group of depositors met Congress general secretary Priyanka Gandhi before she left Bengaluru for Kerala. They gave her a petition seeking justice.

“There are three lakh depositors. Some 300 of them have since died,” Shivakumar said, adding that most of them are senior citizens.

“When the BJP was in power, they promised to hand it over to the CBI. But it was our government that gave it to the CBI. But since a lot of BJP leaders are involved and they’ve done all the fraud, the CBI has neither registered a case nor started investigation,” Shivakumar said.

Priyanka has asked Chief Minister Siddaramaiah and his deputy Shivakumar to consider constituting an SIT. “We will decide on this immediately after the election and ensure justice,” Shivakumar said.

Urging depositors to "stay strong", Shivakumar said: "Your hard-earned savings have been taken by BJP leaders. It shouldn't have happened. It is our bound duty to provide protection to the depositors."

In December 2023, Siddaramaiah approved handing over to the CBI scams at the three cooperative banks.

Authorities have found irregularities to the tune of Rs 1,294 crore at the Guru Raghavendra Bank. The Guru Sarvabhauma Society reportedly lost Rs 284 crore due to financial misappropriation. The extent of fraud at the Vasishta Cooperative Bank was Rs 282 crore.

Recently, Bangalore South BJP MP Tejasvi Surya abruptly left an election campaign meeting in which depositors at Sri Guru Raghavendra bank heckled him over the delay in getting back their money.

Surya’s office later said the disruption was caused by “individuals associated with the Congress party” who “forcefully entered the meeting”.