Manager accused of Rs 33 lakh embezzlement disappears from EDB in Pulwama

SRINAGAR — A non-local manager of Ellaquai Dehati Bank (EDB) Lurgam branch in Pulwama district allegedly vanished after reportedly embezzling approximately Rs 33 lakhs, according to sources cited by the news agency CNS.

The accused, identified as Meraj Alam, son of Mohammad Nazir and hailing from Bihar, purportedly forged the signatures of account holders to misappropriate the substantial sum. Alam has been missing since February 17, as confirmed by authorities.

In response, the police have launched an investigation, registering a case under section 409 of the Indian Penal Code at Police Station Tral. Efforts to locate and apprehend the suspect are underway.

Following reports of the embezzlement, Ellaquai Dehati Bank’s head office in Srinagar issued a statement reassuring the public about the safety of their funds. The bank confirmed that no customer accounts had been compromised despite irregularities discovered during a routine inspection at the Lurgam Tral branch.

A letter from the bank stated, “Some irregularities have been pointed out during a routine inspection at the branch and the same are under investigation.” The bank emphasized that swift action had been taken to prevent any misuse of public funds, including the suspension of the implicated official.

Furthermore, the bank reiterated its commitment to safeguarding customer interests, asserting that no customer account has been compromised and the money of all the customers is safe.