Bank refutes allegations, appeals to employees not to

believe misleading information

Prayagraj, 11 July (HS): Recently, Manoj Kumar Pandey,

General Secretary of a non-recognized railway union, made various allegations

regarding the functioning and loan procedures of the Northern Railway Multi

State Primary Co-operative Bank. The bank management has strongly denied these

allegations, describing them as baseless, misleading, and devoid of facts.

According to the statement, Manoj Kumar Pandey is a retired

railway employee who currently serves as the General Secretary of a non-recognized

railway union. The statement further claims that, at the time of the union's

formation, it was declared that no retired employee would be given any

office-bearing position. It also alleges that, in the past, Pandey and his son

had faced allegations of defrauding people of lakhs of rupees on the pretext of

securing recruitment in the Railways and other departments, and that reports

regarding these allegations had been published in various newspapers, copies of

which are attached. The statement further alleges that Pandey, along with

Shivendra Pratap Singh and Deepak Kumar, is currently accused of illegally

collecting lakhs of rupees from people on the pretext of arranging loans from

the Railway Co-operative Bank. Additionally, it alleges that even after his

retirement, he continues to occupy Railway accommodation at 549-H, Ghanshyam

Nagar Railway Colony, Prayagraj.

In a statement issued by Chhote Lal Verma, Branch Manager of

the Northern Railway Multi State Primary Co-operative Bank Limited, Prayagraj

Branch, he said that the entire process of providing loans to railway employees

is carried out strictly in accordance with the prescribed rules and applicable

regulations. He emphasized that safeguarding the interests of employees is the

bank's highest priority and that there is no compromise with the rules at any

level.

He further explained that, while sanctioning loans to

railway employees, the bank deposits an amount equivalent to 2% of the demand

amount into the Employees Security Fund (ESF) account. In the unfortunate event

of the accidental death of an employee, the outstanding loan amount is settled

from the funds available in the ESF account, thereby ensuring that the

employee's family does not face an additional financial burden.

Branch Manager Chhote Lal Verma stated, All loan

procedures of the bank are conducted with complete transparency and in

accordance with the prescribed rules. Protecting the interests of employees

remains our top priority. The misleading allegations made against the bank have

no factual basis. We appeal to all employees and the general public not to

believe unverified and misleading information.

Hindusthan Samachar / Abhishek Awasthi