The Reserve Bank of India (RBI) officials on Monday started an inquiry into the bank accounts of the scam-hit Andhra Pradesh State Minorities Finance Corporation (APSMFC).
The state minorities welfare department had written a letter to the RBI requesting them for recovery of money from Vijaya Bank, where APSMFC has its account. The department officials told Express that the inquiry would be completed in the next few days.
Meanwhile, the department has also launched a probe and constitued special teams on Monday which inspected as many as four minority engineering and other professional colleges in Hyderabad and Rangareddy and Medak districts. The teams are trying to assess if the colleges misused the minorities funds.
Officials said that the government releases funds to the corporation, which in turn gives to colleges for payment of tuition fees, scholarships and other benefits. The department is trying to ascertain whether there has been any slacking on the part of the corporation officials in distributing these funds or in the utilisation of funds by colleges.
Officials said this probe was launched after they received complaints regarding the same.