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Money vanishing from bank accounts in Central Co-operative Bank Handwara, police registers case

By INS Correspondent , in Business & Economy , at December 14, 2017


Kupwara: A case of embezzlement has been registered by police after people accused Central Co-operative bank ltd branch Magam, in Handwara of Kupwara district of stealing money from their accounts. According to bank officials an amount more than 50 lacs is under the police scanner.

According to various account holders in the bank, the money from their accounts vanished and when ever they would ask bank to pay them money. They would deny it.

Auqaf Committe Chairman and  Market President Handwara Mohammad Munawar Lone claimed that he has deposited ‘money in lacs in the account’ however the ‘entry in his pass book shows only 70 thousand rupees in the account’.

“I was shocked, when I went to the bank and asked for entry into the bank pass book, and they entered Rs 70 thousand,” Lone said.

Several account holders staged a protests outside the bank demanding probe in the bank accounts.

Police registered a case of ‘embezzlement and prime accused Mushtaq Ahmad bhat, Manager of the branch is under investigation’.

SP handwara ghulam jeelani told INS that they have registered a case and have launched the investigation in the bank accounts.


Bank officials confided that an amount of Rs 65 lacs is being investigated.



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