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Demonetization: Bank official Suspended for fraud in Jammu

S. Sidartha Paramedical Training Institute, Sunjwan, Jammu

JAMMU:  A major fraud has been detected in the Citizen’s Cooperative Bank Ltd (CCBL) Jammu where new currency notes worth  20 lakhs  were illegally swapped with scrapped notes of Rs 500/1000 by the bank officials.

Administrator CCBL has initiated an inquiry into the matter and also ordered immediate suspension of the bank Head Cashier, who was found involved in the scam, reports said.

Involvement of some top officers in the bank management and members of then Board of Directors is not ruled out, reports said.



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