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RBL Bank Employee conducted Rs 19 crore fraud in Govt University Account


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In a shocking turn of events, a new revelation has emerged in the case involving a whopping Rs 19.48 crore being deposited into the personal account. The Bhopal’s Rajiv Gandhi Technological University (RGPV) had issued a check to open a Flexi Fixed Deposit (FFD) account in RBL Bank, but instead, the check was deposited by Kumar Mayank, a task head at RBL Bank, into his personal account at Axis Bank. What’s even more alarming is that Kumar Mayank had also provided fake account statements to RGPV officials.

Vikas Verma, the Manager of Arera Colony Branch of RBL Bank, made this disclosure in his statements given at Habibganj police station on February 9th. Verma not only revealed this information but also demanded action from the police against the accused, Kumar Mayank.

Following a complaint from Mohan Sen, the University’s in-charge Registrar, Gandhinagar Police filed a case against several individuals, including the then Registrar of the University, Dr. RS Rajput, Controller Finance Hrishikesh Verma, Vice Chancellor Professor Sunil Kumar, Kumar Mayank, and Dalit Sangh Sohagpur. The case has been registered, and an investigation is now underway.

According to Verma’s statements, Kumar Mayank had been working as a Task Head at RBL Bank from November 2018 until March 2023, with the responsibility of opening accounts for government institutions. After joining RBL Bank, Kumar Mayank even opened a savings account for RGPV. However, despite leaving his position in March 2023, he continued to provide the bank statement for the FFD account to the university, even though such an account had never been opened. The discrepancy came to light in November 2023 when RGPV management requested a statement from Verma, and he informed them that the university did not have an FFD account with the bank. Upon further investigation, the university officials discovered that the FFD account statement provided by Kumar Mayank was fake.

Sources from RGPV revealed that Kumar Mayank, as the task head of RBL Bank, had been given checks totaling Rs 6.98 crore to be deposited into the university’s FFD account. However, instead of depositing the funds into the university’s account, Kumar Mayank deposited the check into his personal account at Axis Bank’s MP Nagar branch, with the account number 921010023537968. To further deceive university officials, Kumar Mayank continued to present them with counterfeit bank account statements. As a result, a staggering Rs 19.48 crore was transferred from RGPV’s account to a private account in an unauthorized manner.

This shocking revelation was uncovered in the report of a committee formed to investigate the matter. The preliminary investigation report was submitted to the Principal Secretary of the department late on Saturday night.

Based on the report’s findings, Dr. RS Rajput, the former Registrar of the University, was suspended on Saturday. Additionally, the University intends to take action against the retired Finance Controller, HK Verma. Furthermore, the Department of Technical Education, Skill Development, and Employment will register a First Information Report (FIR) to initiate a thorough investigation into the matter.

3 Comments

  1. Except for SBI, you can’t rely on other Banks. Staff and Officers in SBI are well trained and groomed and given discourses on Preventive vigilance, which is totally lacking in private Banks, where there is no job security and job churning.

  2. Why did the Axis Bank not check the source of funds in this case.how can such a large amount be deposited in a personal savings account and the Bank not inform the FIU department.Axis employees responsible should also be punished.How did RBL clear the cheque? Looks like too many hands involved in this dish.

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