Bank manager arrested on fraud charge

Image
Press Trust of India Kohima
Last Updated : May 24 2016 | 12:13 PM IST
The manager of a reputed bank in Kohima district has been arrested on charge of fraudulent sanction and withdrawal of loan amounting to Rs 88.94 lakh against term deposit in the name of an individual account holder, police said today.
Following a complaint regarding fraudulent withdrawal by the branch manager, identified as Yichanpemo Yanthan lodged by an account-holder on April 21, police registered a case at Tseminyu Police Station, under Kohima district, SDPO (South) and PRO Kohima Police, Atu Zumvu said in a release yesterday.
The accused manager of the bank, Tseminyu was arrested during the preliminary enquiry, police said.
Police has confirmed that a fixed deposit of over Rs 1.71 crore was transferred from the bank's Kohima branch to its Tseminyu branch reportedly without the consent of the owner by allegedly forging his signature while also sanctioning the loan amount against term deposit.
Further investigation is in progress.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: May 24 2016 | 12:13 PM IST

Next Story