NRI funds siphoned from SBI branch by official | india | Hindustan Times
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NRI funds siphoned from SBI branch by official

A fraud involving a sum of over Rs 1.35 crore has come to light in the city's main branch of State Bank of India (SBI), officials said today.

india Updated: Jul 30, 2011 15:22 IST

A fraud involving a sum of over Rs 1.35 crore has come to light in the city's main branch of State Bank of India (SBI), officials said Saturday.

A senior SBI official at the bank's Kingsway branch allegedly siphoned off the money from accounts of Non-Resident Indians (NRI) and moved it to an account operated by him.

The Government bank recently filed a complaint with CBI naming Anup Rajurkar, who heads the NRI section at the branch, as the main accused. The complaint also names some unknown persons, probably officials from the same branch. SBI Kingsway branch Deputy General Manager (Operations & Credit Network) Dilipkumar Poddar confirmed the development, and said Rajurkar was suspended after the scam came to light.

"We've approached the CBI to inquire into the matter since the embezzled amount is over Rs 1 crore. Simultaneously, bank's parallel inquiry was also underway," he said.

Since the siphoning of funds had been going on for many years, it was not possible to specify the exact amount and the number of officials involved. As of now the embezzled amount is around Rs 1.35 crore, Poddar said.

Interestingly, the bank opted to file a complaint with CBI, and has not yet lodged an FIR against Rajurkar with the local police.

CBI Anti-Corruption Branch S P Thomas John told PTI that the possibility of involvement of other bank employees can't be ruled out.

Though the misappropriation was detected much earlier, the complaint was filed only in April. "We're probing all aspects. SBI officials estimated the misappropriated funds at Rs 1.35 crore, but the amount may go up as many NRIs had accounts in the bank," he said.