A former Senior Manager of Bank of India’s Isri Bazar branch in Giridih district has been booked for alleged embezzlement of more than ₹1.92 crore after an internal inquiry found suspected misuse of customers’ fixed deposits. The FIR, registered at Nimiyaghat Police Station, names former branch head Pradeep Kumar, who is accused of linking fixed deposits belonging to customers with overdraft accounts without authorization and facilitating withdrawals.
Irregularities Flagged After EWS Alert
According to the complaint filed by the branch’s current Senior Manager, the suspected fraud came to light after an Early Warning Signal alert was generated in April 2026. The alert prompted the bank to conduct an internal investigation into transactions and account activity at the branch.
The inquiry allegedly found that banking procedures had been misused to link customers’ Term Deposit Receipts to overdraft accounts without their knowledge or written consent. Following the internal findings, the bank approached Nimiyaghat Police Station, where a criminal case was registered.
Fixed Deposits Linked to Overdraft Accounts
The preliminary investigation alleges that Pradeep Kumar opened two Overdraft Against Term Deposit accounts in the name of his mother, Manju Devi. Investigators claim that 17 fixed deposits belonging to 15 customers were linked to these overdraft accounts without authorization.
According to the bank’s preliminary investigation report, withdrawals were allegedly made in multiple transactions between June 4, 2025, and April 7, 2026. The total alleged financial misappropriation has been assessed at ₹1,92,37,171.
Probe Examines Records and Digital Trails
After detecting the suspected fraud, the bank examined transaction records and supporting documents before filing the police complaint. Officials said Pradeep Kumar has been under suspension since April 23, 2026.
Investigators are now examining banking records, digital transaction trails, account documents and other evidence to determine the full extent of the alleged fraud. Police said further legal action will depend on the evidence collected, and any additional individuals found involved will also be brought within the scope of the investigation.
