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Friday, April 20, 2012

SBI officials drive Rs 1 cr NRI acct scam

The CBI has arrested three State Bank of India (SBI) officers for their alleged involvement in siphoning off money to the tune of Rs 1.35 crore from the Non-Resident Indian (NRI) accounts, sources said today.

The accused including alleged mastermind and in-charge of NRI section of the main branch Anup Rajurkar, deputy manager Prakash Bhalkar and senior executive Mamata Motwani were apprehended yesterday for their alleged role in fraudulently withdrawing the money from the NRI accounts of the bank, they said.

Though the scam was unearthed two years back but after initially ignoring the fraud, the State Bank authorities lodged a formal complaint with CBI only in July last.

Rajurkar was placed under suspension by the SBI pending inquiry against him.

According to CBI sources, Rajurkar enjoyed a clout with a section of BJP leaders.

He allegedly used to provide fake receipt to the NRI bank account holders and transfer money to his own account and would later withdraw the same.

The fraud was committed between the period 2004 and 2011.

CBI produced the trio in a designated court here and obtained three-day police custodial remand (PCR), sources said.

Source: Financial Express


indianist said...

For NRIs in India there are 3 types of accounts that can be opened. But the benefits and tax system varies to all NRI bank accounts having limitations in transactions too...

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