City Reports

Rajasthan: Complaints against credit co-op societies pour in

November 6, 2019, 11:44 am

Rajasthan state secretariat building

Jaipur: The Rajasthan government launched a helpline and a portal to enable people to register complaints against fraudulent credit cooperative societies operating in Rajasthan. Since its launch recently, more than 2,700 complaints from the victims have been received against 17 credit co-operative societies. These complaints are regarding the frauds that the co-operative societies are committing with people in the name of investment schemes and promises of unrealistic returns.  As per the complaints, the fraud amount runs into about Rs 100 crore.  

“The majority of the complaints are against multi-state societies operating in several states of the country. There are only a handful of complaints against societies operating only in Rajasthan,” said a senior officer.

The Rajasthan co-operatives department has sought information about the financial transactions being conducted by these societies from the Reserve Bank of India. The department has also requested the RBI to seize their bank accounts till an investigation is conducted into their financial transactions. There are about 1200 credit co-operative societies active in Rajasthan. Of them, nearly 70 are multi-state.

The Rajasthan government had launched a helpline after Three major cases of frauds by co-operative societies have come to fore this year. SOG arrested office bearers of Sanjivani, Navjeevan and Aadarsh Credit Co-operative societies and exposed frauds amounting to thousands of crores. – The victims of fraud can register complaints against co-operative societies at the government helpline number - 181.

First published: November 6, 2019