Dharamshala, Sept. 13 -- The Himachal Pradesh government has suspended the Board of Directors of Kangra Central Cooperative Bank, Dharamshala, citing administrative lapses, financial irregularities and violations of statutory norms. Kangra Divisional Commissioner Vinod Kumar has been appointed as the Administrator.
Registrar of Cooperative Societies took this action under Section 37 of the Himachal Pradesh Cooperative Societies Act, 1968, following repeated violations of lawful directions and ignoring guidelines of the Reserve Bank of India (RBI) and NABARD. The election process of the bank's board, which had started from August 1, has also been cancelled in view of the governance crisis and the state's disaster situation.
Chairman Kuldee...