Three employees of Jammu and Kashmir (JK) Bank stationed at the Shastri Market branch in Amritsar have been suspended and are under police investigation for embezzling over Rs 2.37 crore, sources reported on Thursday.
The fraudulent activity was uncovered during a surprise cash check by the branch manager, Subhash Chander, on February 17. “Initially, Rs 2.04 crore was reported missing, prompting a further examination by higher bank authorities, which revealed the larger sum missing,” the sources reported.
The accused employees, identified as Sunil Khajuria (Cash Manager), Rakesh Kumar Bakshi, and Amit Gupta (both Assistant Cashiers), confessed during internal investigations that they had manipulated the funds.
They even returned a portion of the misappropriated amount on different occasions. Consequently, the bank suspended them and filed a complaint with the police.
The missing funds, primarily in the form of coins stored in bags within the strong room, had been pilfered over approximately two years. The large number of bags had not been properly inventoried by the bank, allowing the employees to take advantage of the situation.
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 Bank stationed at the Shastri Market branch in Amritsar have been suspended){kind=link}