The General Manager (GM) of New India Co-Operative Bank in Mumbai has been booked for allegedly stealing Rs 122 crore from the bank's treasury. This was revealed after the bank's Chief Accounts Officer filed a case at Dadar police station. The Mumbai Police's Economic Offences Wing (EOW) is investigating the alleged irregularities.
The development comes after the EOW of Mumbai Police began investigating the alleged irregularities at New India Co-Operative Bank on Saturday after the Reserve Bank of India (RBI) imposed several restrictions, including on the withdrawal of funds by account holders for six months.
In a complaint filed at the Dadar police station, the complainer said former general manager Hitesh Praveenchand Mehta withdrew Rs 122 crore from the treasury of the New India Co-Operative Bank's Dadar and Goregaon branches. Mehta was responsible for these branches during his tenure. According to the complaint, the fraud allegedly took place between 2020 and 2025, reported APB news.