JAGATSINGHPUR: The cash officer and accountant of State Bank of India, Jagatsinghpur branch are under scanner after it came to the fore that they have exchanged currency denominations worth Rs 22 lakh with a trader unlawfully.
Sources said there is a currency chest at SBI, Jagatsinghpur where new notes from the RBI are kept and later circulated elsewhere. As per RBI (Note Refund) Rules, 2009, no bank can decline to exchange any damaged, mutilated, taped or torn bank notes.
Local businessmen who have accounts at the SBI branches alleged that though there is a limitation to the amount exchanged, SBI cash officer Suresh Kumar Das and accountant Uma Patnaik reportedly exchanged denominations of Rs 500 amounting to Rs 22 lakh and gave denominations of Rs 20 worth the same sum to a trader Prakash Chandra Sahoo from Bhubaneswar.
They also alleged that the SBI staff exchanged denominations of Rs 500 and Rs 2,000 of the trader and supplied him notes of Rs 20 and Rs 10 for Rs 22 lakh.“The bank staff reportedly received 2-3 per cent commission from the trader for the purpose,” they alleged.
Acting on a tip-off, Biridi police detained the car of Sahoo and seized Rs 22 lakh from his possession on Saturday night. During interrogation, Sahoo confessed to have exchanged currency denominations of Rs 500 and Rs 2,000 for Rs 20 notes amounting to Rs 22 lakh from the SBI Jagatsinghpur branch. Even Das and Patnaik confessed to the deal.
“Without my knowledge, the cash officer and accountant exchanged currency denominations worth Rs 22 lakh. Though there is no such RBI guideline citing the amount to be exchanged, it is illegal to provide denominations of Rs 20 in exchange for Rs 500 currency notes worth Rs 22 lakh. If these two officers are found guilty, legal action will be taken against them,” said chief branch manager of SBI, Jagatsinghpur branch, Susant Kumar Adhikari.
Contacted, sub-divisional police officer Ramesh Chandra Singh said investigation is underway. “Police have asked the owner of these denominations to show proof against collecting such a huge sum and action will be taken against him accordingly. However, no case has so far been registered,” he added.