Raghavendra Bank case probe to be handed over to CBI, says Minister K N Rajanna

Cooperation Minister K N Rajanna assured the Legislative Council on Monday that the investigation into irregularities at Sri Guru Raghavendra Cooperative Bank would be handed over to the CBI by the end of this month.

Replying to a question, raised by Congress MLC UB Venkatesh during a calling attention motion, the minister said that the procedure to hand over the case to CBI will be completed soon. "Action will be initiated as per the law against the accused in this case," he said.

The minister explained to the House that the handing over of the case to CBI is delayed because the translation of documents from Kannada to English is taking time.

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"Once the translation work is done, we will officially hand over the case to CBI,"  the minister stated.

The minister told the House that recently they received a communication from the Reserve Bank of India (RBI) asking why not the licence of the bank concerned should be cancelled.

"We will discuss the same with the department officials and request RBI soon not to cancel the licence," the minister added.

Rajanna clarified that there is no question of sparing anyone in the case.

BJP MLC D S Arun tried to grab the attention of the house by saying the then minister S T Somashekar had announced that the case probe would be handed over to the CBI. However, Venkatesh, objecting to this, said he had just assured but not processed.