CBI arrests SBI official for misappropriating funds of Rs 5.22 crore

The CBI has arrested a cash in-charge of State Bank of India for allegedly misappropriating funds of about Rs 5.22 crore from the Narsapur branch in Medak, Telangana, officials said Monday.

The central agency had received a complaint from AGM of the bank that A Nagender, senior associate and cash in-charge at the branch, had misappropriated bank funds in three tranches, they said.

The bank alleged that the accused official misappropriated cash of Rs 2.32 crore; gold ornaments valued at Rs 72 lakh (approx.) and cash amounting to Rs 2.19 crore (approx.) from three ATMs causing a loss of Rs. 5.22 crore to the bank.

The CBI had filed an FIR against the accused and conducted searches at his premises at Narsapur, Medak district, leading to recovery of incriminating documents, the officials said.

"The arrested accused was produced before the special judge, CBI cases, Hyderabad and remanded to judicial custody up to September 17, 2022," a CBI statement said.