The CBI has taken over the probe into the fraud detected in the bulk deposit of coins at a branch of SBI in Karauli district of Rajasthan causing a loss to the public sector lender to the tune of over Rs 11 crore. The move comes following a directive from the Rajasthan High Court to the effect.

The preliminary probe revealed a scam worth Rs 11 crore involving the coin deposits of the branch.

On July 22, 2021, a professional vendor, Arpit Goods Carrier, was engaged by the bank to count the total coins worth Rs 13, 01,71.275 held by the branch.

Till August 6, 2021, the private vendor counted 2,350 bags of coins worth Rs 1,39,60,000 and the remaining 600-700 bags were estimated to contain Rs 60 lakh only as against the book value of Rs 11,62,11,275, leading to the bank’s committee constituted to count the coins estimating the scam to the tune of Rs 11 crore in the coins held by the public sector lender at Karauli in Rajasthan.

Also,  during the pendency of the counting, an employee of the private vendor was threatened on August 10, 2021 by a group of armed men not to go ahead with the counting of the coins. In the event of continuing with the counting, the armed men threatened to kill the private employee who was staying at a dharamshala (guest house).

 The State police had originally registered the case number 370/2021 on August 13 last year at police station Todabhim in Karauli district. The SBI, through its Controller, Controller Office, Sawai Madhopur region filed a criminal writ petition seeking transfer of the case to the federal probe agency.

The case was registered under IPC Sections relating to criminal conspiracy, criminal breach of trust and cheating.

The High Court on March 4 this year ordered the transfer of the case from the State police to the CBI.

Following detection of irregularities and irregular transaction of the coins by the then cashier at the branch Rajesh Kumar Meena was suspended and a committee constituted by the bank undertook a cash audit of the branch.