Tamil Nadu: 3 arrested for running ‘duplicate’ SBI bank branch

A fraud bank running as an SBI branch in Panruti has been busted in Cuddalore district of Tamil Nadu while three people were arrested. The plan to run a duplicate bank was hatched by the son of former bank employees.

One of the arrested is a 19-year-old named Kamal Babu, who is a son of former bank employees.

Kamal Babu’s father passed away 10 years ago and his mother Lakshmi retired from a bank two years ago. Kamal, who was unemployed, came up with the idea of duplicating a branch of SBI.

The duplicate branch was opened three months back and came under the scanner when an SBI customer noticed the branch in Panruti. The SBI account-holder took up the matter up with his branch manager.

The branch manager in turn took it to the zonal office to enquire if a new branch has started in the region. The branch manager informed that only two branches of SBI were operational in Panruti and no third branch had been opened.

Following the information of a third branch in Panruti, SBI officials went to the spot and were shocked to discover that the duplicate branch had an entire setup that looked exactly like a normal SBI bank. A complaint was filed immediately.

Three people, including the mastermind Kamal Babu, were taken in by the police. Manickam (52) who owns a rubber stamp making company, Kumar (42) who is the owner of a printing press, were the others who were taken into custody.

The police have said that no transactions had taken place in the branch and no one has been duped so far by the bank.