A duplicate branch of State Bank of India, running for the past three months, was identified and closed down by the Tamil Nadu police yesterday and three people were arrested in the case.A duplicate branch of State Bank of India, running for the past three months, was identified and closed down by the Tamil Nadu police after officials of the state-run lender found out and filed a complaint.
Among the three people arrested in the matter is a son of a former SBI employee, who had become well-versed with operations of the bank during his various visits over the years. The fake SBI branch was opened at Panruti in the Cuddalore district of Tamil Nadu. However, police claim that so far no customer has reported having lost money in the branch.
Bank officials requesting anonymity told Financial Express Online that State Bank officials were made aware of another branch in the city after which they lodged a complaint with the local police authorities. The three accused have been booked under various sections of the Indian Penal Code, according to local media reports.
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