A case of cheating and forgery has been registered against the former CEO of crisis-hit Guru Raghavendra Sahakara Bank, weeks after the RBI cap on withdrawal limit triggered panic among depositors.
According to the police, the case has been registered based on a complaint by the present CEO, A Santhosh Kumar, against his predecessor, Manur Vasudava Maiya.
The bank is in the midst of a crisis following huge non-performing assets and the RBI had capped the withdrawal limit to ₹35,000 last month. Kumar stated in his complaint that between 2012 and 2018 Maiya had allegedly lent money beyond his jurisdiction to various customers. PTI