Vigilance sleuths led by the Baripada Vigilance DSP on Thursday conducted a raid in the Baripada Urban Cooperative Bank and seized special audit report and some files relating to alleged financial irregularities.
The Reserve Bank of India had on October 16 cancelled the licence of the bank on the ground its insolvency. The bank couldn’t be revived though many efforts were taken. Depositors were being inconvenienced by continued uncertainty of banks revival, sources said.