Multi-agency probe enters fourth day at Andaman and Nicobar State Cooperative Bank
Sri Vijaya Puram, May 18: A multi-agency investigation into suspected financial irregularities at the Andaman and Nicobar State Cooperative Bank headquarters entered its fourth consecutive day on Monday. Teams from the Central Crime Station (CCS), Sri Vijaya Puram, the Registrar of Cooperative Societies, and Aberdeen Police are jointly conducting the ongoing search operation, which began on Friday sources told The Wave Andaman.
The investigation is centered on the bank’s handling of loans and account management practices, following preliminary inputs suggesting alleged irregularities. Officials involved in the operation are examining account books, transaction records, and administrative documents, both physical and digital. Access points to sensitive files are reportedly under review, sources said.
The bank, a registered cooperative society functioning under the Andaman and Nicobar Administration, serves as a key financial institution for the islands’ rural and semi-urban communities. It plays a crucial role in disbursing credit and offering financial services to farmers, self-help groups, and small businesses across the archipelago.
While authorities have not issued an official statement as of Monday afternoon, sources familiar with the operation have indicated that the teams are thoroughly inspecting digital transaction trails and verifying documentation related to recent loan disbursals. The scope of the probe appears to be wide, with all administrative layers of the bank’s operations reportedly under scrutiny.
The Andaman and Nicobar State Cooperative Bank has branches spread across various islands and is instrumental in implementing government-sponsored financial schemes, including subsidies and low-interest loans for priority sectors. Investigators are likely to examine whether the suspected irregularities extend beyond a few branches, sources said.
So far, no arrests or seizures have been reported, and officials have not disclosed the specific nature of the alleged offense or the amount of funds potentially misused. The Wave Andaman will continue to follow this developing story closely as further updates become available.
