<p>Bengaluru: Chief Minister Siddaramaiah on Saturday approved handing over to the CBI investigations into scams at three Bengaluru-based cooperative banks. </p><p>According to the chief minister's office (CMO), Siddaramaiah has given his nod for a CBI probe into 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. </p><p>Following the CM's nod, the home department issued an order according sanction to the CBI to investigate the multi-crore frauds committed by the "directors, chief executives and staff members of the management board" of the three banks.</p>.Karnataka CM Siddaramaiah calls for hard work amid revenue shortfall fears.<p>When he was leader of the opposition, Siddaramaiah had demanded a CBI probe into frauds reported at these banks involving thousands of depositors whose money was swindled. </p><p>Even the previous BJP government, with Yeshwanthpur MLA ST Somashekar as cooperation minister, was in favour of a CBI probe. </p><p>Authorities have found irregularities to the tune of Rs 1,294 crore at the Guru Raghavendra Bank. </p><p>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. </p>
<p>Bengaluru: Chief Minister Siddaramaiah on Saturday approved handing over to the CBI investigations into scams at three Bengaluru-based cooperative banks. </p><p>According to the chief minister's office (CMO), Siddaramaiah has given his nod for a CBI probe into 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. </p><p>Following the CM's nod, the home department issued an order according sanction to the CBI to investigate the multi-crore frauds committed by the "directors, chief executives and staff members of the management board" of the three banks.</p>.Karnataka CM Siddaramaiah calls for hard work amid revenue shortfall fears.<p>When he was leader of the opposition, Siddaramaiah had demanded a CBI probe into frauds reported at these banks involving thousands of depositors whose money was swindled. </p><p>Even the previous BJP government, with Yeshwanthpur MLA ST Somashekar as cooperation minister, was in favour of a CBI probe. </p><p>Authorities have found irregularities to the tune of Rs 1,294 crore at the Guru Raghavendra Bank. </p><p>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. </p>
