Odisha Bank Employees Arrested for Alleged Misappropriation of Government Funds

Two former bank employees have been arrested by the vigilance department in connection with the alleged misappropriation of government funds from a cooperative bank in Odisha. It is alleged that fake loan accounts were created on the basis of their fixed deposits without the knowledge and consent of the customers and later the amount was withdrawn. The total loss in this case has been reported to be 64.42 lakhs. The arrested accused have been identified as Dichen Kumar Mishra, former manager of Bahalda branch of Mayurbhanj Central Cooperative Bank Limited, and Malay Dutta, former employee. According to the officials, the duo along with three other bank employees allegedly committed this malpractice. According to the investigating agency, Loan Against Term Deposit (LAT) accounts were created without the knowledge of the customers against 24 fixed deposits between 2019 and 2024. The money was used through these fake accounts, causing a loss of 64.42 lakhs to the bank and government funds. According to the vigilance department, the customers were allegedly not informed about these term deposits until they agreed to it.