JOIN USDelhi Police guidelines were breached on a regular basis by cash replenishment agency SIS Cash Services.
Police said Rs 10 crore is the maximum amount that can be transported by cash vans.
SIS Cash Services was not only carrying Rs 22.5 crore, but were also short-staffed as there were only two men in the vehicle.
Police will now consult the Reserve Bank of India to initiate further action. SIS Cash Services was hired by Axis Bank to transport the cash involved in the ‘biggest misappropriation’ on Thursday.
It has also come to the fore that four vans of the agency had left their office at Okhla Industrial Area Phase-1 on Thursday.
Papers recovered from the van suggested Rs 12.5 crore was being transported. The FIR, however, said Rs 22.5 crore was stolen.
“It hints that more money could have been transported on the day,” said Joint Commissioner of Police (South-Eastern Range) R S Krishnia.
According to police, five persons, including one custodian, should be present in the van when cash is being transported.
But due to the staff crunch, there were only two persons inside the van – the accused driver and the security guard.
“The initial probe confirms that they had not followed the rules set by Delhi Police. Our guidelines also specifically mention that a cash van can carry a maximum of Rs 10 crore at a time,” another police officer added.
Sources said police are now considering to register a separate case over the violation of guidelines.
In the past, police had also approached the RBI for steps to ensure that banks are also made responsible for the cash vans’ security.
Following a number of incidents, police had suggested that a bank officer must also be made responsible for the cash transfer.
“Other suggestions were of welding the cash box to the vehicle’s floor along with fitting GPS tracking system and CCTV cameras,” the officer said.
Following Thursday’s incident, police are likely to ensure that banks are now more involved in the safety mechanisms for transferring cash.
“The banks will be asked to avoid a fixed time or route while transferring cash,” the officer added.
DH News Service