J&K Bank Staffers Suspended, Booked for Embezzling Rs 2.37 Crore

Three Employees Allegedly Involved in Fraudulent Activity at Amritsar Branch

Press Trust of Kashmir

Three employees of Jammu and Kashmir (J&K) Bank have been suspended and are facing police charges for allegedly siphoning off more than Rs 2.37 crore from the bank’s branch in Shastri Market, Amritsar. The fraud was discovered during a surprise cash check conducted by the branch manager.

The accused employees, identified as Sunil Khajuria (Cash Manager), Rakesh Kumar Bakshi, and Amit Gupta (Assistant Cashiers), have been placed under suspension and booked by the police. The branch manager, Subhash Chander, detected the missing funds during a routine check of the cash in the strong room on February 17.

Following the discovery, the matter was reported to higher bank authorities at the Zonal Office in Kathua and the Cluster Head Office in Mohali. A formal complaint was lodged by Iftikhar Abdula Sofi, Cluster Head of J&K Bank, Mohali, at the Kotwali Police Station.

The incident highlights the importance of vigilant oversight and internal controls within financial institutions to prevent fraudulent activities. J&K Bank is expected to take further action to address the issue and ensure the security of its assets.