Nellore: Rumours are rife over large-scale misuse of funds in Vavveru Cooperative Rural Bank in Buchireddypalem.
The bank with 4,000 customers, a majority of them farmers, has RS 100 crore turnover per annum.
The allegations on irregularities and cash withdrawals gained strength after a cashier working in the bank, Eswaraiah, attempted suicide on Tuesday afternoon at his residence, when a cooperative department officer was probing into the irregularities in cash withdrawals.
The cooperation wing officials said that RS 65 lakh funds were misused. However, chairman of the bank Sura Srinivasa Reddy struck down the allegations.
Speaking to mediapersons at Buchireddypalem on Wednesday, he denied social media reports while stressing that there is not danger to the deposits of the customers.
He said that report of the ongoing probe in the bank would be submitted in a couple of days. He appealed to the customers not to worry about their deposits.
