Private Bank Manager held for Rs.1 crore fraud

The branch manager of a private bank in Nabarangpur was arrested on Tuesday on charges of misappropriating Rs 1 crore from the bank’s funds. He has been identified as Anjan Kumar Satpathy, said police. According to rules, cash exceeding Rs 1 crore has to be deposited in SBI. Though Satpathy had done so, an internal audit on December 15 revealed a significant discrepancy.

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