The Mumbai police are investigating Hitesh Mehta, the General Manager of New India Cooperative Bank, because he and some others are accused of stealing a whopping Rs 122 crore! This happened just after the Reserve Bank of India (RBI) took control of the bank for a year, putting an administrator in charge.
Just before that, the RBI made it hard for people to take out their money due to worries about what’s been happening in the bank. So many customers rushed to the bank branches on Friday, hoping to get their savings, but they couldn’t even get inside!
Hitesh Mehta is currently being questioned by the Economic Offences Wing (EOW) of the police. This investigation began after the bank’s acting CEO, Devarshi Ghosh, reported the mismanagement. According to Ghosh’s complaint, Mehta and his associates might have worked together to steal money from the bank’s safes in Prabhadevi and Goregaon locations.
The police have charged Mehta with serious crimes under the law, including criminal conspiracy. New India Cooperative Bank has 28 branches, mostly in Mumbai, and it also has a couple in nearby places like Surat and Pune.
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