Bank manager embroiled in Rs 3.7-cr fraud

A senior manager at a Bank of Baroda branch in Shimla has been accused of transferring Rs 3.70 crore from an institutional account to a woman’s account without authorisation. The funds were subsequently withdrawn through various accounts and cash transactions. An FIR has been registered under Section 316(5) of the Bharatiya Nyaya Sanhita at Chhota Shimla police station on the complaint of a deputy regional manager of the bank.

As per the complaint, the unauthorised transactions occurred on August 22 and August 27. When the matter came to light, the bank management took swift action and approximately Rs 90.95 lakh remaining in the account has been frozen by the police.

The case is currently under investigation, with authorities working to recover the embezzled funds.