The employees of the post offices posted in the post office had misused PF worth Rs 95.62 crore 20 years ago. In which now the department has taken action and ordered recovery. Learn about the case in detail.
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If you are associated with the post office, then there is important news for you. The Comptroller and Auditor General (CAG) has issued a shocking report.
According to the CAG report, the employees of the Post Office i.e. post offices have misappropriated public funds of Rs 95.62 crore between November 2002 and September 2021.
This is great news for those investing in the post office savings scheme. The post office savings scheme is quite safe, so such an incident can shock the customers.
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Safe plan
Post Office is considered to be the safest investment. The post office is the oldest and largest banking system in the country. This system caters to the investment needs of urban and rural customers through schemes like Savings Bank, Recurring Deposit, Time Deposit, National Savings Certificate, Kisan Vikas Patra, PF, Monthly Income Account Scheme, Sukanya Samriddhi Yojana, and Senior Citizens Savings Scheme.
The same Department of Posts (DOP) provides these services on an agency basis to the Ministry of Finance.
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CAG submitted report
Let us tell you that in the audit report of CAG on Finance and Communications tabled in Parliament, it has been said that postal workers in 5 circles made fake withdrawals of Rs 62.05 crore from fake accounts. Showed them active with fake balance and then closed. Cash deposits of Rs 9.16 crore by customers in 8 circles were recorded in passbooks but not deposited in their post office accounts.
Such fraud
The workers took the money back. In 4 circles, fraudulent withdrawal of Rs 4.08 crore from savings accounts of customers with fake sign/thumb impressions done by postal workers. There were cases of unauthorized use of User ID and Password by other postal employees or outsiders. Due to this fraud of Rs 3 crore took place in 4 circles. Postal employees opened fake deposits of Rs 1.35 crore in 2 circles with the connivance of outsiders, which have since been withdrawn.
The CAG informed
After this embezzlement of post office employees, the CAG said that out of fraud / rigging of Rs 95.62 crore, the postal department has recovered Rs 14.39 crore (including penalty / interest of Rs 40.85 lakh) from the concerned persons. That is, Rs 81.64 crore is to be recovered. Soon it will also be recovered.
