Unidentified officials of SBI booked for ‘siphoning off’ more than Rs 1 lakh

UNIDENTIFIED OFFICIALS attached with the treasury branch of State Bank of India (SBI) in Sector 17 have been booked for allegedly siphoning off Rs 1,10,500, which was to be deposited with the Reserve Bank of India in April 2016.

An FIR against unknown officials was lodged on the complaint of SBI chief manager Joginder Kumar. Police sources

said most of the currency notes were of Rs 500 and Rs 1,000 denomination, which were declared illegal tender in November last year.

Police officials said that the siphoned amount had nothing to do with the demonetisation process and an FIR against unknown persons was registered after an internal probe of SBI senior officers.

According to information, the incident came to light when RBI asked the SBI management in Sector 17 to return the unused and non-issuable currency notes of three particular series and currency notes, which were in damaged condition and deposited by customers, to the RBI in April 2016.

As per the FIR lodged under Section 409 (criminal breach of trust) of the IPC on Sunday, when RBI officials did not receive any response from the SBI, they themselves inspected the treasury of SBI and found shortage of Rs 5.71 lakh currency notes. Later, SBI again calculated and managed to detect unused and non-issued currency notes of Rs 4,60,500 but failed to locate the remaining amount of Rs 1,10,500.

The FIR further states that the RBI authorities instructed the SBI management to conduct an internal probe, which established that certain officials of the treasury wing of SBI in Sector 17 could be behind misappropriation of the amount.

Inspector Ranjeet Singh, SHO of Sector 17 police station, said, “The SBI officer, Joginder Singh, filed a complaint against unknown officials. We have demanded the entire record of amount from the SBI. All staff members of treasury wing, especially who deposited the cash in the treasury, will be questioned.”

A case was registered at the Sector 17 police station.

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Source: http://indianexpress.com/article/business/banking-and-finance/unidentified-officials-of-sbi-booked-for-siphoning-off-more-than-rs-1-lakh-4597019/