Thrissur: An audit report reveals that the Guruvayur Devaswom Board has invested money in cooperative banks. The Board has invested around Rs.17 lakhs at Perakkam and Erimayur primary cooperative banks. The Devaswom Board has also invested Rs.117 crores in a foreign bank based out of Singapore.
According to the Guruvayur Devaswom Board guidelines the money can be invested only in Urban Cooperative and District Cooperative banks. However, investing in a primary cooperative bank is a violation of the guidelines. The Devaswom Board has investment worth crores of rupees in district cooperative and urban cooperative banks.
The Guruvayur Devaswom Board made an investment of Rs.63 crores with ESAF Micro Finance Bank. The Board also has investments in seven private banks. The audit report also asks the Devaswom Commissioner to re-evaluate its deposit in the foreign bank. The Devaswom Board has submitted the 2020-21 Audit Report to the High Court.
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