The BKC police have registered a case against a former Bank of India officer, Deepak Kale, for allegedly misusing his position to transfer Rs 86.75 lakh from the bank to his son’s company without permission. Kale, a resident of Navi Mumbai, worked as an officer in the transaction banking department at the Bank of India’s BKC branch between 2010 and 2016. His responsibilities involved handling financial transactions, giving him access to important bank accounts.
In 2012, the bank created an ECS Collection Pool Account to credit claim amounts after settling the accounts of liquidated bank depositors. This account was managed by the Deposit Insurance and Credit Guarantee Corporation (DICGC) to ensure proper financial handling. However, during his tenure, Kale took advantage of his position to make unauthorized fund transfers. His son, Advait Kale, owned a company named M/s Solutech, which had a current account in the same branch. Using his authority, Deepak Kale transferred money from the ECS Collection Pool Account to his son’s company without informing the bank or obtaining approval.
Between 2014 and 2015, Kale transferred Rs 68.67 lakh from the ECS Collection Pool Account to his son’s firm. Additionally, he moved Rs 18.07 lakh from the bank’s stationery account, bringing the total unauthorized amount to Rs 86.75 lakh. These transactions were carried out without any official authorization, violating banking regulations.
The fraud came to light when the bank later conducted an internal review and discovered the suspicious transactions. Realizing the unauthorized transfers, the bank reported the matter to the Bandra-Kurla Complex (BKC) police. Following an investigation, the police have booked Deepak Kale for financial fraud. Authorities are now looking deeper into the case to determine how the funds were used and whether others were involved in the scheme.
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