Customers allege fraud on part of bank staff

Residents of Neredmet and surrounding areas, who are customers of a Bank of India local branch, approached Neredmet police alleging that money from their accounts have been siphoned off.

Neredmet Police received a complaint from a customer alleging that her account showed zero balance when she went to withdraw money earlier this week. Shocked, she approached the bank staff who allegedly asked her to retrieve her money from a person M. Sudhakar Reddy, who was appointed as Business Correspondent for the bank. The complainant later came to know that her plight was shared by many of the bank’s 14,000 customers. An amount to the tune of ₹ 4 crore has allegedly been siphoned off by the bank’s staff, the complainant alleged.

The police booked a case and started investigation. “We are inquiring into it. The person who is being accused of cheating the customers is absconding,” said Neredmet Inspector M. Jagdish Chander.


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