BDBL unauthorized loan enhancement case balloons to Nu 576 mn

The Anti Corruption Commission (ACC) has found that the Bhutan Development Bank Limited (BDBL) project officer, Pema Nidup gave up to Nu 576 mn in unauthorized loan enhancements.
An unauthorized loan enhancement is a situation where the relevant committee of the Financial Institution has only allowed a certain amount of loan against certain collateral or project, but then the project officer, on his own, enhances the loan amount.
The ACC, apart from investigating this is also trying to see how much of the amount was taken by the project officer.
According to sources the ACC has found unaccounted assets on the project manager, which has been seized. These include a plot of land in Thimphu, Bull Dozer, three bikes and backhoe.
Pema had only recently joined the BDBL around four years ago and was thus relatively a new staff.
The BDBL management first came across this case when it found Nu 15.5 mn in unauthorized loan enhancements. The case was brought to the attention of the police who given the amount involved, forwarded it to the ACC.

About Tenzing Lamsang

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