Ex-branch manager arrested from Bihar for embezzling funds of Jharkhand bank

A banker was arrested by the Jharkhand Police from Bihar's Rohtas district for allegedly embezzling over Rs 6.30 crore, police said on Friday.

Manoj Kumar Singh (33), the former manager of the Jharkhand Gramin Rural Bank's Dangwar branch in Palamu, was arrested by a Special Investigation Team (SIT) on Thursday, they said.

Singh, a resident of Bihar's Buxar, had been on the run after embezzlement was detected in July last year, they added.

''During his tenure, he approved loans to 11 women's self-help groups without their consent, and withdrew the money from their bank accounts in a fraudulent manner,'' Husainabad's SDPO S Mohammad said.

''He has already repaid Rs 4.66 crore to the bank and Rs 1.36 crore is still pending,'' he said.

He also made unauthorised withdrawals through Special Term Deposit Receipts (STDRs), the officer added. Singh was produced before a court, which remanded him to 14 days in judicial custody.

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