BoB official held for syphoning money from FD accounts

A former Bank of Baroda (BoB) official has been arrested for allegedly embezzling money from deposit accounts of customers, the police said here Saturday.

Niket Kumar, the accused, was working as a "single-window" operator at the Colaba branch of BoB in south Mumbai.

He allegedly transferred a total of Rs 29.5 lakh from 18 Fixed Deposit (FD) and recurring accounts of customers to his friend's account between 2015-17, a police official said.

The embezzlement came to light when a customer recently approached the bank to claim his FD upon maturity and found that the amount was missing.

The bank suspended Kumar following an internal inquiry and also lodged a police complaint.

Kumar was arrested Friday, the police official said.

Upon questioning, he admitted to the scam, the official said.

Kumar was booked under IPC sections 409 (criminal breach of trust by a public servant) and 420 (cheating), and a local court remanded him in police custody till February 12.