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Coins Worth Rs 11 Crore Missing From SBI Vaults, CBI Raids 25 Locations

New Delhi: The Central Bureau of Investigation (CBI) on Thursday conducted searches at 25 locations after coins worth Rs 11 crore went missing from the vaults of the country’s leading lender, State Bank of India (SBI). The case was registered by the central agency on April 13 following an order of the Rajasthan High Court.… Continue reading Coins Worth Rs 11 Crore Missing From SBI Vaults, CBI Raids 25 Locations

SBI
A majority of these high-valued bonds were sold at the main branch of the State Bank of India (SBI) in Hyderabad. Representational Image (Photo: Twitter)

New Delhi: The Central Bureau of Investigation (CBI) on Thursday conducted searches at 25 locations after coins worth Rs 11 crore went missing from the vaults of the country’s leading lender, State Bank of India (SBI).

The case was registered by the central agency on April 13 following an order of the Rajasthan High Court.

On Thursday, the CBI conducted searches om Delhi, Jaipur, Dausa, Karauli, Sawai Madhopur, Alwar, Udaipur and Bhilwara at the premises of around 15 former bank officials and others.

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The matter came to light after the State Bank of India (SBI) branch decided to carry out counting of money after a preliminary enquiry indicated discrepancy in its cash reserve in August, 2021.

The counting was outsourced to a private vendor which revealed that over Rs 11 crore worth of coins were missing from the branch. Only 3,000 coin bags carrying about Rs 2 crore could be accounted for and were transferred to the RBI’s coin holding branch.

(With PTI inputs)