Former senior RBL bank executive arrested in Rs 20-crore cheating scam

The RBL Bank Ltd contacted ICICI Bank Ltd and HDFC Bank Ltd and returned the cheated amount to the victims accounts.

Published: 15th January 2023 07:24 AM  |   Last Updated: 15th January 2023 08:46 AM   |  A+A-

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Image used for representational purpose only. (Express Illustrations)

By Express News Service

NEW DELHI: The Economic Offence Wing (EOW) of the Delhi Police has arrested a former senior employee of the RBL bank in connection with a cheating scam of Rs 19.80 crore, an official said on Saturday. The accused, identified as Nagendra Kumar, was earlier posted in Delhi as Assistant Vice President, Implementation & Client Support- Transaction Banking.

Additional Commissioner of Police (EOW) Jitendra Kumar Meena said the vigilance wing of the RBL Bank had filed a complaint stating that in 2020 two account holders of the bank disputed some debit transactions from their accounts through the cash management system (CMS) portal. On further enquiry, the bank came to know that the accused Nagendra transferred Rs 19.80 crore from these accounts to his own accounts with ICICI Bank and HDFC Bank.

The RBL Bank Ltd contacted ICICI Bank Ltd and HDFC Bank Ltd and returned the cheated amount to the victims accounts. The senior official said that the accused Nagendra had permissions to read and write in the host to host banking system of RBL Bank regarding bank accounts of two firms. “By misusing this authority, the accused Nagendra created two funds transfer files having eight transactions and uploaded them to the folder of these companies in the host-to-host banking system.

After that the cash management system of RBL Bank automatically sends these files for payment,” the official said. A total of Rs 6.9 crore was transferred to the account of accused Nagendra Kumar but the same was returned by ICICI Bank on the request of RBL Bank Ltd. Rs 10 crore was not accepted by HDFC Bank as the beneficiary name mismatched as accused Nagendra Kumar mentioned his account number and IFSC Code correctly but mentioned a different beneficiary name.



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