Nagpur: A recent report in the Marathi newspaper, Dainik Deshonnati, has highlighted a Rs 1.50 crore scam in the NMC Employees Coop Bank, which has caused a stir among its directors. The report alleges that money was transferred from the accounts of employees directly to insurance companies without authorization, and the bank’s CEO, Chairman, and entire board of directors have come under the radar of the Enforcement Directorate (ED), the Nagpur police, and the Anti-Corruption Bureau for their alleged involvement in the scam.
The Deshonnati report also claims that the Reserve Bank of India (RBI) has taken notice of the financial irregularities and is investigating the matter. The bank’s Chairman, CEO, and Directors have been accused of pocketing a hefty commission by committing financial irregularities, and the scam amount is said to be Rs 1.50 crore.
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24 July 2025
According to the report, 11 out of 12 directors have accused the Chairman and the CEO of the scam and submitted a memorandum for an enquiry. However, the Directors face a dilemma as the CEO himself is involved in the scam, and questions have been raised as to why they remained silent even after complaints by employees.
The role of the office of Sub-Registrar of Societies has also come under scrutiny for not lodging a police complaint against the CEO and Directors of NMC Employees Coop Bank despite the crime coming to the fore. The State Government has taken cognizance of the matter seriously, and the financial scam is being covered up under the pretext of departmental enquiry, as per the report.
Overall, the investigation by ED, police, ACB, and RBI is highly anticipated, and it remains to be seen how the matter will unfold in the coming days.
Directors pin blame on Chairman, CEO:
According to the report, 11 Directors out of 12 have pinned blame on the Chairman and the CEO for the Rs 1.50 crore scam. These Directors claimed to have submitted a memorandum for an enquiry in this regard. But the Directors faced a dilemma as the CEO himself is engulfed in the scam. It could be an attempt by the Directors to save themselves from a certain action. Why the Directors kept silent even before the complaints by the employees, is the pertinent question.
