Co-op bank scam to be given to CBI

Bengaluru, NT Bureau: The Karnataka government is in the process of handing over the Guru Raghavendra Cooperative Bank scam case to the Central Bureau of Investigation (CBI) by the end of this month, Minister for Cooperation K N Rajanna said on Monday.

The process is taking time since the translation of documents in Kannada to English is still underway, the minister told the Legislative Council.

"Once the process of translation is completed, which is expected by the month end, the government will hand over the case to the CBI," the Minister said.

Heated arguments between the Congress and the BJP ensued over the issue as the Congress MLAs accused the previous BJP government of not taking any action to protect the interest of investors.

The bank had promised high interest rate to the investors which was much higher than the prevailing market rate.