Odisha Govt Suspends Managing Committees of Key Cooperative Bodies Amid Financial Scandal

Bhubaneswar: The Odisha government has dissolved the managing committees of two key cooperative bodies in the state amid allegations of financial irregularities.

Official sources confirmed the issuance of separate orders for the dissolution of the Odisha State Cooperative Bank (OSCB) and Odisha Cooperative Housing Corporation (OCHC).

The OSCB, a premier cooperative bank based in Bhubaneswar, faced scrutiny following accusations of financial misappropriation involving its president. An investigation revealed significant inaction by the managing committee, leading to its suspension for non-compliance with the Odisha Cooperative Societies Act, 1961. The Cooperation Department’s Commissioner-cum-Secretary will oversee the OSCB’s operations during the suspension period.

Similarly, the managing committee of OCHC was suspended due to alleged irregularities and failure to serve its members’ interests. The Cooperation Department’s additional secretary has been appointed as the interim administrator to manage OCHC’s affairs.