Mumbai Bank Scam: RBI Uncovers ₹122 Crore Fraud

RBI Audit Uncovers Fraud: A routine RBI inspection at New India Cooperative Bank exposed a ₹122 crore cash shortfall at its Prabhadevi and Goregaon branches.

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How It Was Detected: RBI officials Ravindran and Sanjay Kumar inspected the bank's safe, discovering discrepancies after hours of counting.

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Employees Stunned: RBI warned senior staff about the missing cash and demanded answers, leaving employees in shock over the massive shortfall.

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GM Hitesh Mehta Confesses: Mehta admitted to siphoning funds since the COVID-19 pandemic, distributing the money to known associates.

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Police & EOW Action: Dadar Police filed an FIR before EOW took over. Mehta’s residence was raided, leading to his arrest and further investigations.

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Probe Continues: Authorities are scrutinizing Mehta’s financial dealings, tracing the missing funds, and identifying possible accomplices in the fraud.

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