Bank manager, husband held for swindling Rs 1.23 cr from bank

The arrested woman identified as Nirmala Rani (59), who was manager of George Town and Anna Salai branches of the bank from the year 2016 to 2019.
Representative image
Representative image

CHENNAI: A woman who was working as a manager in Punjab and Sindh Bank was arrested with her husband for allegedly swindling permanent deposits to the tune Rs 1.23 crore of customers.

The arrested woman identified as Nirmala Rani (59), who was manager of George Town and Anna Salai branches of the bank from the year 2016 to 2019.

She had allegedly transferred the permanent deposit of Rs 1.23 crore to her account in Karnataka bank. She had later transferred the money to the bank account of her husband Elangovan (62), before withdrawing the cash via ATMs.

Chennai CCB sleuths had arrested both the couple based on a complaint from the zonal manager of Panjab and Sindh Bank.

During the probe, investigators found that those who received business loans and letters of credit with bank guarantee had made permanent deposits in the bank. They will take back the deposit after their project is over.

Nirmala Rani allegedly transferred these deposits to her bank account, police said. Nirmala Rani has already been dismissed by the bank.

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