NELLORE: The central bureau of investigation (
CBI) has booked two senior officials of
SBI in the district on charges of illegally routing the new currency soon after the announcement of demonetisation in November last. The malpractice of the officials was detected during the verification of records recently. Deputy manager (operations) I J Rajasekhar and senior special assistant M Sultan Mohiuddin, both working at SBI, Buchireddipalem branch of SBI in the district, were booked under Section 120-B r/w 420, 409 IPC and Section 13(2) r/w 13(1)(d) of PC Act, 1988.
Giving out details of the case to the media on Monday, superintendent of police (SP), CBI (Anti-Corruption Unit), R Gopala Krishna, said that Mohiuddin had colluded with the deputy manager and secured gold loans with benami names in the same branch from November 15 to 25. While Mohiuddin is the key consipartor, deputy manager Rajasekhar cleared the loans in violation of rules.
Both the officials withdrew nearly Rs12.4 lakh through benami names only with an intention to take the new currency notes out of the bank. They subsequently closed the gold loan accounts by repaying the debts with suspended high-value currency notes. "This is total violation of RBI guidelines," the SP said and observed that it was a criminal conspiracy.
As per the records, Mohiuddin secured four separate gold loans to tap new currency worth Rs 9.7 lakh. They also processed and sanctioned three more gold loans to other persons to a tune of Rs. 2.7 lakh and made the loan disbursals in new currency, exceeding the limits laid down by RBI due to demonetisation, the SP said.
Subsequently, two benami gold loans were closed by depositing demonetised currency notes of Rs 1,000 and Rs.500.
The SP said that both the officials were found misappropriating funds to a tune of Rs 12.4 lakh by abusing their official position. CBI conducted raids on the residences of the accused and several incriminating documents were seized.
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