Manager of private bank booked for misusing customer FD accounts

BENGALURU: A relationship manager of IDBI Bank was arrested after allegedly misusing the fixed deposit accounts of customers in Sampangiram Nagar and Gandhi Nagar branches.

The accused has been identified as Sajila, a resident of Tamil Nadu. She was working as a relationship manager at IDBI Bank. During the audit, it was revealed that the manager misused Rs 4.92 crore of customer money in Sampanagiram Nagar and Gandhi Nagar branches. The bank officials filed a complaint against Sajila with Sampanagiram Nagar police station.

Sajila, a relation ship manager in IDBI bank booked for allegedly misusing customers Fixed Deposit accounts.

The police arrested Sajila and during questioning, it was revealed that she misappropriated customers’ fixed deposits and bought LIC policy bonds in the name of someone else to the tune of crores of rupees. Sajila used the commission from the LIC policies and the policy benefits for her own purposes.

Srinivas Gowda, Deputy Commissioner of Police, Central Division, Bengaluru City

“The staff of an IDBI Bank has misused Rs  4.92 crore that belonged to customers. The fixed amount deposits of customers were broken and converted into LIC bonds in others’ names. When one of the customers went to check his bank account, the bank staff used other funds to make up for the shortfall. During the audit, it was revealed that Rs 4.92 crore had been misused. The money is safe in LIC policy bonds, but it is misused to achieve LIC targets and utilise the interest amounts. The money was misused without the customer’s knowledge. According to our investigation, 240 bonds have been created. We have frozen LIC bonds for the time being and we are investigating further”, said Deputy Commissioner of Police (Central Division) Srinivas Gowda R.