Amidst the PNB scam row, another scam comes to light in Telangana

Punjab National Bank has caused a huge controversy throughout India for its runaway customer Nirav Modi who took an Rs 11,300 crore loan from the bank causing a huge scam in the banking sector. 

However, another scandal took place in a rural bank where crores of rupees were transferred into a different bank.

Madi Jaipal Reddy, who worked as a cashier in Telangana Rural Bank in Aziz Nagar, Rangareddy district, has been in charge and comes up with the term deposit receipts in various ways. In one such instance, one of the figures on the receipt was duplicated and deposited in the records.

Jaipal Reddy has been involved in this type of fraud all the days of his job in the bank from July 2010 to January 2018. A total of Rs 8 crore 94 lakh was transferred to another bank. The cheating was found to have co-operation from the bank manager and staff.

However, the bank officials made a preliminary inquiry based on a complaint filed by a customer named Ram Reddy from Aziz Nagar, who allegedly pointed out discrepancies in the receipt of his deposit. 

Telangana Rural Bank Regional Manager Mandala Ravinder Reddy has complained to CBI officials on the matter. According to the complaint, along with the chief accused Jaipal Reddy, along with the then Branch Managers - Moses, Lakshmi Narayana, Chandraiah, Srinivasa Rao, Rajanna, Ravikant, retired officer Ramarao and accountant Guruprasad, a case has been filed against all the 11 members.

However, the current bank manager informed that he is yet to receive further information on the scam and all the things are in the trial.