
Today, a bank official was arrested in Jammu and Kashmir’s Reasi district for allegedly embezzling over ₹1.26 crore from dormant accounts over the past three years, according to the police. The fraud was uncovered last month when the accused, Ishwinder Singh Ranyal, an Assistant Manager at J&K Bank Pouni branch, withdrew money from an active account, leading the account holder to file a complaint. In response to the seriousness of the offense, a special team was formed, and Ranyal, a resident of Pouni, was apprehended this morning in Sainik Colony, Jammu.
The accused had been evading arrest for the past month. By activating dormant accounts and illicitly withdrawing deposited funds, he managed to wrongfully gain ₹126.34 lakh, resulting in a loss of public money at J&K Bank Branch Pouni, as stated by Reasi Senior Superintendent of Police (SSP) Mohita Sharma. The accused assistant manager, also a resident of Pouni, had allegedly been carrying out this scheme for the past three years, illegally withdrawing ₹126.34 lakhs.
It’s worth noting that dormant accounts are those that have remained inactive for an extended period, with the exception of interest postings. Once an account becomes dormant, it is considered unclaimed property by the state.