Embezzlement of ₹4 crore exposed in Himachal Pradesh State Cooperative Bank, assistant manager suspended

Diary Times News Service

Rajgarh, August 14: A major fraud of about ₹4 crore has come to light at the Nauhradhar branch of Himachal Pradesh State Cooperative Bank. The assistant manager of the branch has been suspended and transferred to Shimla as the investigation is ongoing.

The embezzlement came to light on August 8, when a team of bank officials led by district manager Darshan Pandey inspected the branch. The initial report of suspicious activity was received on August 3, following which the investigation was initiated.

During the investigation, it was found that the assistant manager had siphoned off about ₹4 crore from customers’ accounts by creating fake bank accounts. The full extent of the fraud is still under investigation and the amount may increase.

The news of the fraud spread anxiety among local residents and many rushed to the branch to know the status of their deposits. Bank officials assured customers that their money was safe, which helped ease the tension.

District manager Darshan Pandey confirmed that a case has been registered with the police and further action will be taken based on further investigation. The bank is taking steps to prevent further incidents and has urged customers to remain calm.

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