SBI Thuraiyur branch official suspended on charges of illegal currency exchange

Sources said that a probe has been commissioned by the management against an employee, identified as Rajendran, of the Thuraiyur branch of the State Bank of India (SBI) on Friday following allegations that the person was carrying out exchange of scrapped denominations after taking some percentage of the amount changed as commission a few days ago. The staff’s fraud came to light through a footage that went viral on the social media and subsequently the bank management carried out a separate detailed investigation. Senior officials of the bank also suspended the employee involved in the illegal act prior to the commencement of investigation.  However, Thuraiyur police said, though the bank authorities came to the station on Friday to lodge a complaint against  the employee,  however, decided to finish their investigation and then take the legal course. Sources said, Rajendran was reportedly collecting the scrapped notes and handed over the new bundles outside the bank premises a few days ago on commission basis.  He was carrying out the transaction in a tea shop near the bank and distributed the money. Someone, had taken a footage of his act and posted it on social media.  The clip went viral and prompted the bank officials to initiate action.