Tamil Nadu police today arrested three people for running a duplicate branch of State Bank of India (SBI). Among the three people, one was the son of former bank employees.
Ambethkar, an Inspector of Police at Panruti, has confirmed the development and said the police have arrested three people including the mastermind Kamal Babu, an unemployed youth whose parents were former bank employees.
His father died 10 years ago, while his mother retired from a bank two years ago.
The other two people arrested include a person who runs the printing press from where all the receipts, challans and other documents were printed. The other was into printing rubber stamps.
The three-month-old branch came under the lens after an SBI customer noticed it in Panruti and took the matter up with his Branch manager. Soon after, the matter was escalated to Zonal office, which in turn informed the Branch Manager that only only two branches of SBI are running in Panruti, and no third branch had been opened.
SBI officials visited the place (the duplicate branch) and were surprised when they saw the entire set, which was exactly like a bank branch, with all the systems and infrastructure in place. SBI officials immediately launched a complaint following the three people were arrested, said police officials. They added that thankfully no transactions had taken place, so no one lost money. All three were presented in court.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.