Bengaluru: Bank employee arrested for unauthorised mortgage of customers' gold worth Rs 3.5 crore
Bengaluru (PTI): A deputy manager of a bank was arrested for allegedly misappropriating and unauthorisedly mortgaging 2,780 grams of gold ornaments belonging to multiple customers, worth over Rs 3.5 crore, police said on Saturday.
The alleged fraud came to light after the bank’s chief manager filed a complaint against the accused at the Girinagar police station on February 5.
Citing the complaint, police said the accused allegedly removed 2,780 grams of customers’ gold ornaments from bank lockers without informing higher authorities and pledged them with a finance company.
During the investigation, officials found prima facie evidence suggesting that the accused had spent the proceeds on online betting, police said.
"The accused deputy bank manager has been arrested in this case. We are trying to recover the gold. So far, about 700 grams have been recovered," said Lokesh B Jagalasar, Deputy Commissioner of Police (South).
"We are not getting the desired cooperation from the financiers. We will move the court and initiate appropriate legal action against them. Further investigation is underway," he added.
Police also advised customers to verify the safety and status of their ornaments kept in bank lockers.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Min. Priyank Kharge to expresses concern over implementation of VB-G Ram G
Bengaluru: Rural Development and Panchayati Raj Minister Priyank Kharge has expressed concern over the uncertainty surrounding the implementation of the proposed VB-G Ram G scheme, stating that the MNREGA programme, which has been a lifeline for rural India for nearly two decades, appears to be facing an uncertain future.
Speaking to media, Kharge said that as March 31 draws to a close, there is no clarity on the rollout of the new scheme from April 1. He pointed out that the central government has not yet issued the necessary guidelines for implementing the scheme for rural workers and villages.
He criticised the Centre for its lack of preparedness, stating that there is no clarity on fund allocation, no final parameters for classifying gram panchayats, and key processes such as social audits have not been defined.
Kharge said the situation comes at a critical time, as summer marks a peak period for rural employment demand, when many people depend heavily on wage employment for their livelihood.
He added that reports have emerged of delays in approvals and families not receiving work despite demand.
He further alleged that the Centre’s move to shift from a statutory employment guarantee to a rule-based allocation system is already showing negative consequences.
Kharge also raised concerns over provisions such as a mandatory 60-day halt during agricultural seasons, which he said would further limit employment opportunities for rural workers.
The BJP-led central government had claimed that the new scheme would transform rural India, but in reality it is turning out to be detrimental to people’s livelihoods, he said.
“The crisis in rural India due to the stalling of MNREGA is beginning to unfold. Given the Centre’s past record in handling such situations, there is growing concern over the impact on rural livelihoods,” Kharge said.
