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Tamil Nadu Police Bust Fake SBI Branch In Cuddalore District; Three Including The Son Of Ex-Bank Employee Arrested
Indian Banks - SBI and Federal Bank - Representative Image (Sanchit Khanna/Hindustan Times via Getty Images)
The Tamil Nadu Police yesterday (12 July) busted a fake State Bank of India (SBI) branch operating in the State's Cuddalore district, reports Financial Express.
Not only has the branch has now been closed, but the Police has also arrested three people in the matter, one of whom is a son of a former SBI employee who is now deceased. The son is believed to have become well-versed with the operations of the bank during his various visits over the years.
The three arrested in the matter have been identified as Kamal Babu (19), A Kumar (42), and M Manickam (52). They had mirrored the infrastructure of the official branches of SBI, with lockers, technological hardware and other documents.
Prime accused, Babu is said to have applied for his father's job after the death of the latter. However, his application was delayed. In his submission to the Police though, Babu has asserted that his intention was never to cheat people but he only wanted to open a bank for himself.
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