New India Co-op Bank vault had capacity for Rs 10 cr but book showed Rs 122 cr: EOW

New India Cooperative Bank's Prabhadevi branch here had a capacity to keep Rs 10 crore at a time, but the cash in hand book showed there was Rs 122.028 crore in the safe on the day of RBI inspection, police have said.

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The Mumbai Police's Economic Offences Wing (EOW) is conducting a probing into the embezzlement of Rs 122 crore at the New India Cooperative Bank and has so far arrested three persons, including two former top executives of the lender.

The Reserve Bank of India's (RBI) inspection team visited the corporate office branch of the bank at Prabhadevi on February 11, where they found Rs 122 crore cash was missing from the safe, an official said on Tuesday.

The balance sheet at the corporate office branch was showing Rs 133.41 crore at the bank's safe at Prabhadevi and Goregaon branches, and Rs 122.028 was the figure on the balance sheet of Prabhadevi branch on that day, he said.