IDBI Bank Manager Arrested For Misappropriation Of Rs 1 Crore In Odisha’s Nabarangpur

Nabarangpur: Police arrested branch manager of IDBI Bank in Odisha’s Nabarangpur district for allegedly misappropriating Rs 1 crore from the bank.

According to police sources, more than Rs 1 crore was deposited in the IDBI Bank’s branch at Nabarangpur on December 1 and 2. As per norms, cash above Rs 1 crore cannot be kept in the vault of the branch and has to be deposited in the currency chest of the State Bank of India (SBI).

Following the rules, the branch manager of the bank, Anjan Kumar Satpathy, took Rs 1 crore in cash to deposit in the currency chest of SBI.

However, a discrepancy of Rs 1 crore was found in the accounts of the bank during internal audit on December 15. On being informed about the missing cash by the bank officials, divisional general manager (DGM) Swarup Dutta came to the branch and started investigation.

Confirming about the missing cash, Dutta filed a complaint at Nabarangpur police station on Monday. The police detained Satpathy and questioned him. Following the questioning, the police arrested Satpathy on Tuesday, said Nabarangpur SDPO Krushnachandra Bhatra.