Hitesh Mehta, the accused in the New India Cooperative Bank scam, on Sunday was brought to Mumbai’s Holiday Court for a hearing. Mehta had allegedly withdrawn Rs 122 crore from the bank when he was responsible for the Dadar and Goregaon branches of the New India Cooperative Bank. He misused his position and committed fraud of Rs 122 crore from the accounts of both branches.
The Economic Offences Wing (EOW) of Mumbai Police has been conducting the investigation into alleged irregularities at New India Cooperative Bank following a complaint filed by a bank representative.
Customers rush to branches after RBI ban
A day after the Reserve Bank of India (RBI) imposed a six-month transaction ban on New India Co-operative Bank Ltd, anxious customers rushed to its branches on Friday, seeking clarity on their deposits. The RBI’s action came in response to irregularities in the bank’s lending practices, triggering concerns among account holders about the safety of their savings.
