Three held for running fake SBI branch
Chandigarh, July 11, 2020: For running a duplicate branch of State Bank of India – SBI, the Tamil Nadu police have arrested three persons including the son of the ex-bank staffer.
Business Standard reported that the father of mastermind Kamal Babu, an unemployed youth whose parents were former bank employees, had died ten years ago while his mother retired from a bank two years ago. It further stated that two more persons were arrested running the printing press from where all the required printed material was printed and rubber stamps.
The matter was noticed when SBI customer noticed it in Panruti and took up the matter with Branch Manager who further reported to Zonal Office which in turn informed that there are only two branches in Panruti and no third branch had been opened.
SBI officials were surprised to see the duplicate branch on their visit with the systems and infrastructure. It is also reported that no transactions had taken place, so one lost money.