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Rs.100 crore scam by Bank Cashier in Madhya Pradesh


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In Shivpuri district, depositors who are now depositing money in the cooperative bank are facing significant troubles after a scam involving 100 crore rupees came to light. These depositors are unable to withdraw their money, and their pleas for assistance have fallen on deaf ears. Even the collector and other officials have joined the depositors in urging for the return of their deposited funds, but no action has been taken thus far. Public hearings held every Tuesday in Shivpuri witness a large number of people demanding the withdrawal of their money from various branches of the cooperative bank. During a recent public hearing, individuals from Pohri approached the collector’s office, appealing for help in accessing their funds.

The 100 Crore Rupees Scam and Its Impact

The scam took place at the Kolaras branch of the cooperative bank in Shivpuri district, where a peon and cashier were involved in embezzling more than 100 crore rupees. As a result, the bank’s deposit base shrank by nearly 100 crore rupees, leading to its bankruptcy. This incident occurred approximately three years ago, and despite the arrest of some suspects, the investigation is still ongoing. The fraudulent withdrawal of the deposit base by certain bank employees resulted in over 100 crores being embezzled. Unfortunately, due to the prolonged investigation, the bank has run out of funds, leaving depositors unable to access their money. This situation has caused immense distress among the depositors, as the case remains unresolved.

Voices of Distressed Depositors

During a recent visit to the collector’s office in Shivpuri, a depositor named Vinod Rai from Teela village shared his plight. He disclosed that he had a fixed deposit of approximately 3 lakhs in the cooperative bank, which was made in 2022, but he has yet to receive his deposited money. Rai urgently needs the funds as he plans to use them for his daughter’s wedding, but the delay has put him in a difficult situation. He has made multiple appeals to the collector and other officials, but to no avail. Similarly, Nareesh Bhargav from Pohri expressed his urgent need for money, as he requires knee surgery. However, the funds he deposited in the cooperative bank are inaccessible, despite his repeated pleas to the collector. Bhargav had deposited around 5 lakh rupees, and the non-withdrawal of his funds has caused significant financial hardship for his family.

Shortage of Funds and the Struggles of Depositors

Following the scam in the cooperative bank, there is a severe shortage of funds, resulting in bank employees only allowing depositors to withdraw three to five thousand rupees within a span of 15 to 20 days. For those who had deposited lakhs of rupees, this amount is insignificant. It is evident that the bank has run out of money, a fact that the state government is aware of. However, a solution to this dire situation has yet to be found. The closure of the bank has left depositors grappling with the bank’s procedures. Trust in the bank was once strong when funds were available, but the current circumstances have shattered that trust.

4 Comments

  1. Who was branch manager, who audited the bank and controlling officer of that branch manager should be prosecuted as co accused helping the cashier directly and indirectly.

  2. It looks very foolish at the incidents.in a rural branch,how can a employee do such kind of fraud without the head of the branch
    .

  3. Will Mr Modi come to the rescue of depositors in this case by funding the errand bank as he does for his corporate friends by waving off lakhs of crores of their loans? After all, 100 crores rupees should be peanuts for him to help with in comparison to what he is usually accustomed to for his friends.

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