New India Coop Bank had capacity for Rs 10 cr, book showed Rs 122 cr: EOW

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New India Coop Bank had capacity for Rs 10 cr, book showed Rs 122 cr: EOW - Business Standard

Quick Summary:

New India Cooperative Bank's Prabhadevi branch in Mumbai had a capacity to keep Rs 10 crore at a time, but the cash in hand book showed there was Rs 122.028 crore in the safe on the day of RBI inspection, police officials said on Tuesday, citing probe into a fraud case.

The RBI inspection team visited the corporate office branch of the bank at Prabhadevi on February 11, where they found Rs 122 crore cash was missing from the safe, an official said.

The balance sheet at the corporate office branch was showing Rs 133.41 crore at the bank's safe at Prabhadevi and Goregaon branches, and Rs 122.028 was the figure on the balance sheet of Prabhadevi branch on that day, he said.