A Bank of Baroda employee at the Kalupur branch in Ahmedabad has been accused of siphoning Rs 8.7 crore from its currency chest and concealing the shortage by uploading false balance certificates on the Reserve Bank of India's e-Kuber portal. The fraud came to light during an internal audit conducted after the employee's prolonged absence from work.
Details of the Complaint
According to the complaint filed with the Kalupur police on Friday by the chief manager of the bank, the accused, a resident of Chandkheda, was serving as the joint custodian of the currency chest at the Gandhi Road branch. He went on leave on April 13, citing health issues, but failed to return to work despite repeated calls and emails from bank officials.
Discovery of Missing Cash
During the subsequent audit, officials discovered that 174 reams of Rs 500 notes were missing from the currency chest. Each ream contained 10 bundles of 100 notes each, amounting to a total of Rs 8.7 crore. The discrepancy was identified when physical cash was reconciled against records after a new custodian took charge.
The complaint alleges that internal records falsely showed the cash as available, suspecting manipulation of the 'bin book' and Excel sheets used for day-to-day reconciliation. These records were reportedly used to generate the certificates that were uploaded to the e-Kuber system, creating a false impression of adequate cash reserves.
CCTV Evidence and Suspicious Activity
CCTV footage reviewed during the inquiry allegedly showed the accused entering the branch on the evening of January 13. A labourer and his son entered shortly afterwards, and the footage captured the three individuals later leaving the branch carrying multiple boxes. The complainant stated that security personnel had informed him that night that the accused was taking boxes outside the premises. When questioned at the time, the accused allegedly claimed that the boxes contained scrap material meant for disposal. The same explanation was reportedly given to the security guard as well.
The investigation is ongoing, and police are examining the evidence to determine the full extent of the fraud and identify any other individuals involved.
