Bidar: Income Tax Dept searches at DCC Bank

A team of Income Tax (IT) officials conducted searches at the District Co-operative Central Bank (DCC Bank) in Bidar on Friday.

The DCC Bank is headed by the brother of District In-charge Minister Ishwar Khandre, sparking curiosity amidst the upcoming Lok Sabha elections and raising political implications.

It is gathered that a 15-member team comprising officials from Kalburgi, Yadgiri, and Telangana, descended at the bank for searches at around 11:30 am. With a heavy police presence, the main entrances to the bank were sealed off, while mobile phones belonging to bank officers and staff were confiscated. The officials proceeded to scrutinize the documents within the premises. Allegations of irregularities in loan disbursements, contravening government regulations, form the backdrop to this search, sources said.

For several years, the Nagamarapalli family held sway over the operations of the bank. However, in the elections held just six months ago, Minister Eshwara’s brother, Amarakumar, assumed the role of chairman of the DCC Bank. Additionally, Minister Khandre’s son, Sagar Khandre, is contesting as the Congress candidate for the Bidar Lok Sabha seat, further amplifying the political ramifications of the raid’s timing.

Responding to media inquiries regarding the IT raid, DCC Bank CEO Manjula stated that the IT officials were primarily examining the account balances. She emphasized that such scrutiny is routine during election periods. Assuring transparency, Manjula affirmed that all requested documents have been promptly provided to the authorities.