The Hindu Business Line : Fraud averted, bank official held
What a sad news? UCO bank was in a very bad shape about a decade back alongwith two other nationalised banks - Indian and United Banks. It was Govenment's gesture and RBI's tolerance that they three got second life instead of getting closed down. The employees would have been on roads without jobs or incomes let alone reputation. How the hell the branch manager could venture to collude with these fraudulent men of Pothina Technologies for such a huge fraud?
After all, Vizag and Vijayawada are four hours away and any one can easily trace the transactions and their authenticity. That too, a cheque on another public sector bank - IDBI. It is time such criminals and culprits are booked and hanged publicly so that no bank official in future dares or dreams of getting into such malicious activities.