Mumbai bank scam: Employee reveals how RBI uncovered Rs 122 crore cash shortfall

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A senior New India Cooperative Bank employee's statement has revealed shocking details about how the Reserve Bank of India (RBI) uncovered a massive Rs 122 crore cash discrepancy at the Mumbai-based bank during a routine audit.

The irregularities were detected when RBI officials conducted an inspection at the bank's corporate office in Prabhadevi and its Goregaon branch.

The complainant detailed that the bank's safe, located on the third floor, was opened using keys obtained from bank employee Atul Mhatre.

Simultaneously, another team of RBI officials inspected the Goregaon branch's safe. After several hours of counting, RBI officials discovered a significant shortfall between the cash physically present and the amounts recorded in the register.

According to the complainant's statement, RBI officials then summoned the bank's senior employees to inform them that Rs 122 crore in cash was missing, with additional discrepancies found at the Goregaon branch.

The officials warned the bank's staff of serious consequences if they failed to disclose the whereabouts of the missing funds.