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Thiruvananthapuram: KSFE conducted internal audit in all the 36 branches where vigilance raids were conducted. KSFE Chairman Pilapos Thomas said that no serious omissions were found in this. Not a single chit has been started without a treasury deposit. Only those who have paid before the chit auction date are eligible to participate in the auction.
Vigilance at the Kasargod branch was investigating three customers for defaulting on a 50-month check, asking how the defaulter could pay others without paying. The Branch Manager then explained to Vigilance the operation of the check. The chairman said that the officials had checked the branches with a questionnaire prepared in advance without even understanding the working method of the chit.
Only minor problems with day-to-day transactions were detected. Contrary to that, if vigilance finds any irregularities, let them know. Let’s react to that in that context. Another drawback is that it adds people instead of the customer who pays for the payment. However, the chairman added that this was a provision in the Central Chits Act.
Vigilance conducted lightning inspections at 36 branches yesterday. KSFE funds are deposited in the treasury without receiving the first installment from the Chittalans, and the checks issued by the Chittalans are included in the lottery before they are collected. Irregularities such as making chits were found. The inspection was based on the order of the Director of Vigilance.
