SBI employee held in Rs 5 crore scam

AHMEDABAD: An employee of SBI's Kutiyana branch in Porbandar district was arrested today by the CBI in connection with a Rs 5 crore scam.

"A bank assistant Tulsi Ladani, who was handling cash at the Kutiyana branch of SBI, was arrested in connection with the scam," an officer of anti-corruption wing of CBI said.

"The accused has been taken on remand till October 12 for further investigations," he said.

"Around 259 account holders of Kutiyana branch had complained to the bank that cash was being withdrawn from their accounts without their knowledge," an SBI official said.

"We suspected hand of some bank employees behind the transactions, in which we lost crores of rupees," he said.

As per bank rules if a scam exceeds Rs one crore then the case is handed over to CBI for investigation, a SBI official said.